In October of 2021, as a result of the largest leak of documents in history, 11.9 million files from over 2.94 terabytes of data were publicly released by the International Consortium of Investigative Journalists [ICIJ].
Almost any business will deal with negotiations and contracts at some point, whether those contracts are with suppliers, merchandisers, customers, or service providers. If a business cannot do something itself, like manufacture subcomponents or deliver products to consumers, it will usually need to negotiate and sign a contract with another business to perform those tasks. It is a give and take relationship. A contract outlines what is expected from each party. As your company grows, what began years ago as a handshake deal between two businesses may eventually have to be formally adopted as a contract to protect both parties.
The Burton Law Firm offers negotiation and contract services. We can help your business negotiate contracts with suppliers, customers, and other service providers in these situations and many others. A valid contract contains three key principles. The first principle is the offer, which means a good or service has to be offered. The second principle is the acceptance, which means the buyer must be willing to have the good or service offered. The last principle is the consideration, or the amount the buyer is willing to give for the offered good or service. A written agreement can help you prove the principles of the contract in court. Without a written contract, your legal standing may be based purely on an oral agreement. As Samuel Goldwyn supposedly said, “A verbal contract isn’t worth the paper it’s written on.”
The basic idea behind the crafting of a contract is to specify precisely what goods or services are being offered and what the offering party is being given in return. On its face this seems a very straightforward proposition, yet this can be misleading. Parties involved in contract negotiations are interested in getting the best value they can for the goods or services being offered. It is important to make certain the contract accurately reflects the negotiated terms. In this instance, it is vital to have an attorney involved in the negotiations and drafting of the contract.
Using an attorney can protect your business interests and spare you the time and energy of dealing with problems after they crop up. A suitably formulated contract can address and avoid problems before they even arise, allowing you and your company to focus on your core business operations. At The Burton Law Firm, our attorneys possess a great deal of pertinent experience drafting accurate, precise, and enforceable contracts. Please let us assist you in negotiating and preparing your next contract.