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Work with an attorney to reduce small business contract issues

| May 30, 2017 | blog

Running a small business typically means you’re filling a lot of roles. You may be the person who handles the bookkeeping, the hiring and firing and all the inventory. If you are in charge of contracts, whether with your staff or with vendors, it’s important to know what each contract contains before signing it.

Far too many small business owners hope for the best when executing contracts, and that can end up costing them in the long run. You should read each clause thoroughly and ensure that you understand what you are signing before you agree to sign anything legally binding.

Leaving anything uncertain is a mistake that could harm your small business. If you and a supplier or employee don’t read a clause the same way, you could end up in legal trouble. Interpretation of contract and employment law can be incredibly complex, and seemingly little things, like the position of a comma, can affect a business’ finances and future. Rather than simply hoping for the best, your business should make a point of working with an experienced attorney to review any and all contracts you plan to execute. Your attorney can protect you and your business from potential future issues.

Contracts are confusing for many, but necessary

Do you understand what constitutes a binding contract in Texas? Are you worried that you could have signed something that could undermine your business? The right Texas business attorney can help you review your contracts to ensure they are legally sound. Your attorney can also verify that your in-house contracts say what you think they say. If there is room for misinterpretation, that could cause legal issues for your company at a later date. It is far better to know for certain that your contract is binding and accurate than to risk running into issues with your contract’s language at a later time.

Texas has some unusual contract laws when compared with other states. Especially if you or your business is new to Texas, you need the help of a lawyer to ensure you’re doing everything properly. In some cases, such as home refinancing or large business purchases, the consumer has a three-day right to rescind to avoid undo influence on the contract signing process.

These laws can benefit you, if you hope to get out of a contract. They could cause delays if you have to worry about customers or clients changing their minds after executing a contract with you. If you hope to get out of a contract, an attorney can help you determine if the three-day rescission period applies in your case.

If you want to avoid delays or issues caused by rescission, your attorney can help you create a contract and situation that reduces the likelihood of rescission. Don’t risk issues with contracts causing problems for your business! Retain the help and advice of a business attorney today.