Tara Burd, San Diego Contract Litigation Attorney says, “Planning ahead and protecting your interests and relationships, makes sense.” When it comes to businesses and individuals in contract-related disputes, there are two distinct camps of people. In the first camp are individuals who see no need to put their agreements in writing. These people believe that friendships, family, and handshakes are a strong enough bond to overcome any disagreements. These people are admirable for their kind-hearted, optimistic outlook on life. But they are wrong.
The importance of a contract is more than simply planning for failure or broken promises. When creating a contract, the parties have an opportunity to clearly articulate their intentions, their goals, their terms and the consequences of any breach. The best of friends and the closest kinships can easily disagree on material terms. For example, if you loan money to a friend, when must he or she pay it back? What happens if she is unable to pay it back on time? If there is a natural disaster, does that excuse your friend from repaying the loan? Putting answers to these questions in writing is the best way to preserve good relationships and avoid expensive litigation. “Litigation doesn’t make friends,” says Tara R. Burd, “If you have an important agreement that involves money or any other assets, put it in writing in a way that makes sense.”
The second camp of individuals is those that give contracts a bad name in the first place. They’re the prime contractors, cell phone companies, and large businesses that drop a stack of 50 pages in front of you and expect your signature by the end of the day. These contracts often contain mass quantities of boiler-plate language which often do not apply to the person signing the document. They are daunting. The robustness of these contracts causes many individuals to devalue their importance and rely on the handshake and pat-on-the-back form of an agreement.
But the good news is there’s another way. The right attorneys can help you to understand which paragraphs are really necessary in your contracts and which aren’t. They can help you draft contracts that make sense. Contracts aren’t just for big businesses. They’re also for individuals with business-like concerns: family-to-family loans; investments in a best friend’s new business venture; and partnership agreements. Another perk: you have four years to enforce a written contract and only two years to enforce a verbal contract. Planning ahead and protecting your interests and relationships, makes sense.
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Or visit the Law offices of Tara Burd at 4452 Park Blvd., Suite 310, San Diego, CA 92116. Offices can be reached by phone at (858) 215-2873.