The Thompson Law Group, P.C. has handled almost all types of transactions from the formation of a business relationship, purchase or sale of a business to any other type of contract that is necessary for extension of credit, performance of work, or lease of property.
It is imperative that written agreements be comprehensive as well as understandable to minimize future problems. If a contract is unclear, then the parties will have to litigate issues if there is a dispute in the future. However, if contracts are clear and the parties are in agreement to the terms there tend to be fewer problems in the contractual relationship as well as minimal potential litigation.
With the onset of the Internet, almost all types of contracts are available to the public. It is not necessary to reinvent the wheel and spend money to write a contract from scratch, but it is important to have an attorney review any contract prior to signing it to make sure that it encompasses the individual situation as well as accounts for any potential problems in the future. Many individuals and businesses fail protect themselves in a transaction by considering problems that could arise. Sometimes a party extending credit can set up automatic payments as well as require collateral to secure a debt. In addition, there are many dispute resolution clauses that may minimize costs in the event of disputes. There are many default provisions in the law that may be imposed on a contract if it is silent on a particular subject. Many times the parties do not want these default provisions and only learn of them once they have been imposed. This is especially true in the case of corporate Bylaws and limited liability company Operating Agreements. Additionally, sometimes the law is silent on a particular issue and the parties are forced to litigate a dispute as there are no contractual provisions or law governing the issue.
In our transactional work, we focus on prevention because we believe that ten minutes with a lawyer at the onset of a deal sometimes can save thousands of dollars in litigation expenses or avoid a problem altogether. We view ourselves and our clients as members of a team dedicated to protecting them in a transaction. Our job is to handle all aspects of a transaction so the client is free from worry about procedural matters. We are committed to keeping our clients apprised of the status of their case and make a point to communicate with our clients about a change in their matter as quickly as possible.
The Thompson Law Group, P.C. is committed to providing quality legal service at reasonable rates.
Succession planning... something likely of concern here.....
We suggest having a review of your transactions... BEFORE problems arise!
Here is information that will help you decide on having a written or verbal contract.