The Importance of Business Contracts.
Almost everyone has heard the phrase “Get it In Writing”! The reason for that is simple: If the parties fail to document their agreement in writing, there is always room for future disagreements. And more often than not, failing to draft good written agreements leads to serious (and often expensive) disputes. Nowhere is the need for written contracts more important than in your business. One of the most common mistakes that a business owner can make is not having good written agreements. Think about it – your landlord isn’t going to rent you a space in their building without requiring you to sign a lease, correct? You can’t buy a car at a reputable dealership without signing a contract. Obviously, the list goes on and on. So why would you do business without requiring signed contracts from your purchasers, vendors, and/or business partners? Below are some guidelines to consider when deciding if and when a contract is necessary.
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