Have a Lawyer to Draw Up a Contract So That It Is Legally Enforceable
A business needs to operate within the confines of the laws that are applicable in the North Shore area. This requires owners and managers to be constantly aware of commercial laws, which can be quite complex in their application to situations that businesses may find themselves in. Unfortunately a recurring problem for many businesses is customers not paying their bills on time. To ensure you are paid by your customers, get legally enforceable terms of trade from a North Shore commercial lawyer.
In every business, there is a need to fulfil certain obligations which they will pay suppliers for. This often requires contracts and other documents to be signed between the two parties, which can be legally enforceable, in case of any dispute. This is where it becomes necessary for a business to have a lawyer familiar with commercial law, to draw up such contracts and the terms of trade under which the contract will operate. Business deals do involve negotiation and agreements to be arrived at, and even though it is necessary to have trust and confidence in each other, it is always safer to have everything that has been negotiated or agreed to be set down in a legally enforceable document in the form of a contract, that can be signed by both parties involved.
Before any contract is drawn up, all the terms that look after the interest of both parties need to be set out and itemised. These contracts can be with customers, vendors, employees, investors or any other party that has a business relationship. A lawyer may couch contracts in legalese, but it is always better to cut out all the legal mumbo jumbo and ensure that a contract has language that a layman can understand. This makes it easy for the parties, who are ultimately responsible for the execution of the contract to be clear as to their responsibilities and obligations, which will be based on any negotiations or terms agreed to.
A lawyer drawing up the terms for a contract has to ensure that the contract has conditions that both parties to it can fulfil and are authorized to do so. Parties and authorities responsible for execution of the contract must be very clearly specified, while the terms laid down in the contract must include all details agreed to in the negotiation. The trickiest part in most contracts are payment obligations and delivery commitments and these must be spelt out in complete detail, so that there is never any ambiguity in to what each party has to do , to complete their part of the contract.
When contracts are drawn up, a good lawyer will also include conditions that can lead to termination of the contract. Under good business conditions and in 99 percent of the cases, these may be redundant, but once these terms are a part of the contract, it becomes a way for any dissatisfaction on either site to be brought to a culmination. It can also help to have terms that will allow for dispute resolution, legal costs and other issues that may become a bone for contention.
If you operate business in Albany or on the, a highly experienced North Shore commercial lawyer is McVeagh Fleming and Co. If you need to draw up a trading contract or terms of trade, then be sure to contact McVeagh Fleming.