Good Advice on Contracts from Fort Lauderdale Business Law Attorney Kim Douglas Sherman
What ever happened to the “Hand-shake Agreement”? Some of us remember a time when people gave their “word”, shook hands, and did what they promised to do. Unfortunately, that is not now and not here in South Florida. Business law attorney, Kim Douglas Sherman, says, “Let’s talk about contracts–written contracts. They are good to have.”
Fort Lauderdale business law attorney, Sherman, makes these recommendations for a good, enforceable written contract. First, you should identify the exchange of something of value. For example, you promise to pay a certain sum and the other person promises to do something in exchange. Second, the agreement must contain all of the essential and important terms. What terms are “essential” will vary depending upon the nature of the contract. Third, both parties should sign the document. “Simple,” says contract attorney Sherman, “and it works.”
Writing Effective Business Contracts with the direction of Business Attorney Kim Sherman
If time is important to your agreement, you should specify when it is to be performed and what happens if there is delay. You would not want to pay for hurricane shutters in January and not have them installed before the hurricane season. Mr. Sherman’s contract law advice is to ask the salesperson to tell you when you can expect the job to be done. You should also ask what is the absolute latest date that the job will be done. Then, Attorney Sherman recommends you insist on putting that “latest” date into the contract with some appropriate provision for failure to meet that “essential” term. Business Lawyer Sherman notes that if you follow this tact, you will certainly get the “feel” of whether you will be getting what you expect.
Fort Lauderdale contract writing attorney Kim Douglas Sherman also advises that written agreements are not only for goods or services, they are very important to relationships. For example, two good friends want to have a company formed for their new business venture. Just having trust in each other will not answer the issues raised if one dies or becomes unable to work in the business, or if one wants to sell their share. Those are the kind of “essential” terms to be addressed in a good partnership agreement. The best working partnerships are founded upon a solid agreement. Without a written agreement that anticipates future events, it is much more complicated if you wait until the relationship experiences a traumatic event. Consider having your own attorney or an attorney with Mr. Sherman’s qualifications write or review your contract.
Contract Lawyer Sherman is Experienced in the Importance of Contracts
According to Florida Business Lawyer, Kim Douglas Sherman, your rights to enforce your agreement should also be part of the contract. Consider putting in a right to receive interest for sums not paid on time. Attorney Sherman advises to put in a provision that the prevailing party should recover their attorney’s fees and court costs. He says, “Holding back money and not paying before you receive your goods or services is one of the mightiest ways to get performance by the other party.” Of course, there is no substitute for doing your homework. Take the time to make a reasonable investigation of the person or company with whom you intend to contract.
In this article, Business and Contract Lawyer Sherman has only touched the surface on legal matters relating to contracts. Sherman says, “If the deal is important to you, it is important enough to have your lawyer take a look…before you sign!”
To contact and to learn more about Fort Lauderdale Business and Contract Attorney, Kim Douglas Sherman, visit his website at www.ShermanLegal.com