We encounter hundreds of contracts throughout our lives. For example, we frequently enter into contracts for employment, housing, and even online shopping. While many of these contracts are simple, all of them bear significant legal implications. The consequences of entering into a contract you do not fully understand can be dire; therefore, we encourage you to review your contracts with a lawyer before signing it.
What is a contract.
Simply put, a contract is a legally enforceable promise between parties. In other words, the parties are required by law to perform their obligations. A party that breaches the contract can be held liable to the non-breaching party for damages or can be ordered to perform.
Likewise, a contract is not just a regular promise that, if you breach, will simply affect your reputation. Considering this fact, it is crucial that you fully understand what you are promising and how you will be obligated by law to act. One way to do this is by hiring a contract lawyer.
Specific benefits of reviewing your contract with a lawyer.
1. Your lawyer will help you negotiate. A contract that is drafted by the other party often contains provisions that are unfavorable to you. Even if you are able to identify such provisions, you probably do not have the training or experience in negotiation that a contract lawyer has. Your lawyer will be able to better negotiate with the other party on your behalf.
2. Your lawyer will help you fully understand the contract. A contract often contains legal jargons that you might not be familiar with, or even if you are, you might not know their full legal implications. Since a contract is a legally enforceable promise, it is crucial that you understand exactly what you are promising. A lawyer will help you achieve this.
3. Your lawyer will prioritize you. Even if you fully understand everything that is included in the contract, you might not realize whether important provisions have been excluded. A lawyer who is well-versed in the laws of your state will be able to identify additional provisions that should be added for your benefit.
4. Your lawyer will help you respond to a breach. Contract breaches occur, and when they do, you want a lawyer who not only knows the law, but also knows the details and the context of the contract. Naturally, your lawyer who helps review your contract will be able to provide the most effective and efficient assistance in the event of a breach. Thus, by hiring a lawyer to review your contract, you are effectively preparing for a possible breach.
5. Your lawyer will provide a sense of security and peace. Signing your name can be stressful, especially if you understand the significance of entering into a contract. After all, your signature will legally bind you to the terms. Having a lawyer who explains the process and provides assurance will allow you to be more at ease throughout the process.
When considering whether or not to hire a lawyer, most people think about how much lawyers cost, and reasonably so. However, it is important to also remember how much benefit lawyers can provide. If you are looking for an experienced lawyer to review your contract, call us at any time at 317-643-1813.