If you are starting a business or already own one, then business contracts and agreements are going to be a part of your responsibilities. There are several different types of contracts that may apply to your operations including hiring personnel, renting or buying real estate, or working with vendors, for example. While you are under no requirement to use an attorney to draft business contracts, safeguarding your business and your future from disputes or issues can make using an attorney beneficial.
What are the Downsides to Oral Business Contracts?
Many business owners think that they must write a contract out to have it sound and binding. This is not the case. Business contracts can be written, but they can also be spoken, too. As long as the elements that define a contract exist then the result is an agreement with all parties involved having some types of obligations and responsibilities to each other. For instance, a contract will have to have an offer made that is accepted and there must be an exchange of value.
Therefore, using oral negotiations to develop the terms of an agreement and meeting all of the aspects that define a legal contract can be done. Oral contracts can be litigated in court if the terms are violated by one of the parties involved. Though, there are many issues that can come about if disputes arise with oral contracts.
First, in the absence of anything in writing, it can be hard to show that wrongdoing took place. The ability to prove one’s grievances can be very difficult because tangible evidence does not exist. By contrast, a written contract has the terms in black and white and can be used to prove the conditions and specific stipulations that each party was responsible for abiding by.
A lawyer can help business owners put together the most legally binding and fitting contract that will protect their interests and meet their objectives. Should issues come about, a solid contract can safeguard you and your operations from detrimental outcomes.
Call a California Business Attorney At Leiva Law Firm Today
If the purpose of putting a contract together is to work with another party or parties and keep everyone involved accountable for their respective roles, then doing so the right way is essential. A contract that is legal, clearly written, and with little room for evasion of duties will be ideal. Whether you are entering into an agreement by signing an existing contract or you are developing one of your own, an experienced attorney can help.
Before you write a contract, discuss one, or sign one, speaking to a professional can be advantageous. For questions about contract formation and review, the Los Angeles business lawyer at the Leiva Law Firm can assist you. Please call today to schedule a completely free, initial consultation at (818) 519-4465.