One of the most shocking trends is the assumption that what’s said in private between two parties is automatically upheld in court. You need to make absolutely sure that you’re focusing on actually getting as much in writing as you possibly can.
Unfortunately when it comes to legal matters, people think that written agreements are either a waste of time (because they could possibly be overturned in court on legal technicalities) or that they take too much time to generate. In addition, some worry that introducing a written agreement means that they will lose whatever deal matters to them.
If the other party is hesitant to put a good deal in writing, it’s a sign that the deal in question is probably too good to be actually true. So it’s really up to you to make sure that you are protecting your rights at all costs. No one in the world is going to care more about your rights than you do. You just need to make sure that you have a few things in line in order to make your written agreements the best around.
First and foremost, you’re going to want to make sure that you are really noting the dates. When it comes time to defend an agreement, the dates are really what matter. You want to make sure that you note when the agreement was started, when the agreement is supposed to end, and any other dates in between.
For example, let’s say that you are a self-employed worker that’s supposed to complete a work for hire project. You need to ensure that you have the date of the agreement, as well as the date that you are supposed to have the work turned in. In addition, you also want to make sure that you have the date that the other party is supposed to pay you, along with a list of accepted payment methods. You will need to have late fees spelled out. These are the basics of a good working contract. Any rights that are supposed to be held by you, released by you, or automatically held by the buyer are equally important. If you don’t do this, then you’re going to be in a world of trouble later down the road. The more ambiguity that’s hiding in your contract, the more possibility lurks that you could have the agreement turned into the seller’s favor.
So it’s really in your favor to ensure that you are making things as airtight as possible. In the case of serious money — life changing money — an attorney really does need to be involved. We’re all in favor of DIY contracts and other legal issues being taken up in a layman’s hand, but the reality is that unless you’re a lawyer you might not see around every corner the way they would. When the amounts in question can make or break your financial blueprint, it’s really in your best interest to think about getting outside help.
However, the tips in this guide should help you with a wide variety of smaller contracts, so it’s not like you can’t get things done on your own. Just know when you need to get outside help, and it’s never a bad thing to have a notary as a 3rd party witness when things are being signed. They can attest to the agreement being entered to by both parties, which can really pay off in the long run.
Now is the perfect time to tie together your legal and financial blueprints for a life beyond your imagination — what are you waiting for?