An Irvine business lawyer can explain that strong business contracts help protect business owners and their businesses. Here are a few elements to making such contracts.
Use the Right Names
An Irvine business lawyer can explain that it is vital to use the correct business names when forging a contract. Not doing so can mean that the company is not bound by the contract or that the individual who signed the contract did not represent the company and can be personally liable for the contract.
Define Payment Obligations
Another important term of a contract is payment information. The contract should clearly outline when a payment should be made, to whom it should be made, whether there are installments and in what medium the payment can be made. Additionally, this section should outline when work is considered to be satisfactorily completed.
Include All Material Provisions
Agreements reached during verbal sessions should be outlined in the written contract. The contract should accurately reflect the expectations of the parties. Assumptions should not be part of a contract. Ultimately, the court will likely be stuck with just the contract to determine the outcome of a dispute involving the contract.
Include a Provision on Contract Termination
An Irvine business attorney can explain that the contract should include a provision regarding when the contract has been terminated. This section should discuss substandard work or conditions that allow one party to get out of the contract if not satisfied.
If you would like more information on other elements that make contracts stronger, contact an Irvine business attorney with Daily Aljian LLP by calling (949) 861-2524.