Nearly all forms of businesses require written contracts that set out the terms, duties and obligations of the contracting parties.
While not all agreements are required to be in writing, it is to the benefit of both sides to clearly state what each party is agreeing to do.
Where agreements have been made, but have not been spelled on in a written contract, questions can arise later on as to what specifically was agreed to. It is easy to get into business with someone. It is much more difficult to get out of business with that same person, especially if there is no contract detailing when and how one or both parties may terminate the agreement.
Contracts come in many shapes and sizes. Some are overly complex, while others are simple.
Finding the right balance between those two interests can help individuals both protect themselves, without spending absorbent amounts of money.
In all scenarios, you as the contracting party, should think about what you want out of the contract and how best to keep yourself protected both during and after the term of the contract.
At Nichols Law, we are able to assist clients with reviewing contracts that they are thinking about signing. We are also able to assist clients with preparing contracts for a wide-variety of forms of agreements.