Austin Contract Attorney
The world is run by contracts, which are just agreements between two parties such as individuals, governments, and companies. They are everywhere, from opening a small business to leasing industrial manufacturing equipment. Contracts are important because they outline the responsibilities of the parties that sign them and serve as the foundation for business to occur. As a result, well drafted contracts can mean the difference between a good business outcome for both parties, and a contentious nightmare that results in business litigation. For this reason, it is in your best interests to engage an experienced Austin contract attorney in reviewing and drafting the legal language in your agreements.
Drafting Your Own Contract vs. Hiring an Attorney
We sometimes see clients attempt to draft their own contracts for agreements between family or friends, or ones that don’t involve a lot of money. What they don’t realize by doing this is that they are put those long-term relationships as risk with poorly written contracts that can get misinterpreted and result in litigation.
The same is true with verbal or oral contracts. Even if you know the other party, it’s easy to forget the details of your agreement – making it hard to prove – which can lead to disputes over who was responsible for what. In fact, oral contracts are often are unenforceable due to the Statute of Frauds, which states that most contracts must be in writing. Again, doing your own contracts without a professional just isn’t worth it.
Fortunately, the business attorneys at Thorsen Legal have decades of experience drafting contracts on behalf of individuals and businesses across industries and company sizes. Engaging expert legal counsel to draft your contracts can ensure that your agreements protect your interests and clearly outline the responsibilities of both parties which can help prevent breach of contract disputes down the road.
Common Problems with Contracts
Because contracts are so versatile, they can be made to deal with anything, so it’s impossible to address every potential problem that might occur in the future. However, there are certain problems that repeatedly occur that it is important to carefully and specifically address them during the contract drafting process. This includes:
- Too vague of terms – For an agreement to occur, both parties need to understand their obligations to one another. Vague terminology that is open to interpretation creates confusion. To avoid this, legal language should be precise to avoid or minimize room for misinterpretation.
- Contingencies that are left out – Ensure that your contracts are comprehensive in describing the duties of both parties. Both parties’ obligations should clearly define who is responsible for what, when, how, and where.
- Being too informal – If your contract is too informal and doesn’t mention something, it’s difficult to enforce it. Regardless of who you are making an agreement with – even with close friends and relatives – the more detailed your contract is, the fewer disputes you are likely to have. Our experience has repeatedly shown us that clarity is essential, and actually helps protect those relationships.
Speak with an Austin Contract Attorney
Business contracts are often complicated. Our law firm has the expertise to help you formalize any type of business agreement, from drafting and reviewing all the way through signing. With decades of experience drafting enforceable contracts, we know how to protect you and your interests.
Contact our office for a free initial consultation. The team of Austin business attorneys at Thorsen Legal can help structure your legal agreements to avoid disputes and ensure a happy outcome for all parties involved.
Austin Practice Areas
- Real Estate
- Trusts & Estates