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Drafting your business contract properly is one of the most important things you can do to protect yourself before problems arise. There are many different types of business contracts, ranging from commercial real estate purchase contracts, goods or services contracts, consulting contracts, independent contractor agreements, employment agreements, business purchase contracts and many more. Many common traps and pitfalls can be made during such a process, however, they can all be easily avoided through proper contract drafting.
As Modesto business law lawyers, the attorneys at Ogden Law Firm, PC have experience in dealing with the wide variety of situations in which a business contract is required. While there are many different facets of facilitating the transaction, below is a list of some of the common themes in business negotiations and contract drafting.
From the outset, the job of a business law attorney is to determine the unanticipated legal issues that may arise in your situation. There are a whole host of contractual issues that may affect your entire deal. For example, depending on whether the contract is for goods, services, or real estate, different requirements must be met to establish proper contract formation, modification, and enforcement.
It is critical that there be a proper determination of the parties and the capacity of the parties, such as a limited liability company, trust, husband and wife jointly, corporation or general or limited partnership. This is just one of the many ways that the attorneys at Ogden Law Firm, PC can assist you with your business contract. Getting the names and respective authority right is imperative so that there is a binding contract with the party or parties that were intended.
During the negotiation stage, it is helpful to have a business law attorney facilitate negotiations to help ensure that the transaction gets completed accurately and includes your intended objectives in the contract. A letter of intent (LOI) helps clients narrow down alternatives, identify deal-breaking issues, obtain legally binding agreements, and reduce the costs of negotiations.
A party should be careful, however, in drafting an LOI to prevent it from becoming a binding offer if the party did not so intend. An attorney drafted LOI can ensure that your letter is exactly what you intend it to be. Contact Ogden Law Firm, PC to speak with a business law lawyers today.
After negotiations are complete, we can draft the final business contract. As Modesto business law attorneys, we can help you with not only the substantive, but also the highly technical aspects of drafting and ensuring your contract is comprehensive. We strive to make your contract readable in plain English, reduce or eliminate redundancies, and make sure the document is complete and consistent throughout.
Drafting the contract requires creative and forward thinking. As business lawyers, we anticipate and flush out the unanticipated traps for our clients. While we wish our clients success in their business ventures, it is our job to plan for the worst and prepare contingencies in such cases.
For example, what happens if the opposing party disregards a term of the agreement? Has the contract now been breached and your performance is excused, or is this considered only a minor breach? Please see our Breach of Contract page.
If you need an experienced business law lawyers in Modesto, please contact us for a consultation.
Fill out the contact form or call us at 209-524-4466 to schedule your initial consultation.