Wednesday, June 27, 2007

ATTENTION TO DETAILS IN CONTRACTS

Anytime you are entering into a contract make sure that you have the time to read it in detail. If there is anything you do not understand make sure you either ask the other party what it means and put the meaning down in writing or take the time to call a Burbank attorney for advice. When you do sign the contract, everyone will assume that you read it and understood it, including a Judge if the matter goes to litigation. Be sure that any definitions you arrived at are included in the contract. This way there will be no misunderstanding as to what means what.

You have a right to include your own terms and conditions in the contract and negotiate the other terms and conditions in the contract. Try and be as specific as possible and spell every possible contingency out in the contract. The details and wording are suppose to protect your rights. There are some standard provisions that should be in every contract including an attorney's fees provision. This provision will enable you to recoup your attorney's fees and costs if the matter is litigated and you prevail.

Having a Burbank attorney review your contract up front will not only be to your advantage it can save you money down the road. Also, an attorney can plan ways to help you maximize your return on your contractual rights. Most attorneys will be happy to charge you an hourly rate to review and edit contracts. This is probably the best approach as opposed to a flat fee. Flat fees for reviewing a contract have the disadvntage of creating an incentive for the attorney to short cut the review process. A detail review may cost a bit more up front, but in the long run quality work product is what you want and not short cuts.

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