Severna Park Business Lawyer Answers Common Contract Questions
Updated: Sep 9, 2022
A Severna Park business lawyer can answer questions about your employment or business contract before you sign it. Whether you are leasing an office, taking on a new customer, purchasing equipment or products, or entering into a contractor agreement, it’s wise to have a contract attorney review the language prior to you signing the contract. Otherwise, you could inadvertently be putting your business and yourself at risk for future lawsuits and financial complications. We offer free consultations where we will be happy to offer legal advice. In the meantime, here are answers to some of the questions we are asked for informational purposes only.
Common Contract Questions Answered by a Severna Park Business Lawyer
Schedule a free legal consultation to ask questions related to your business or contract.
#1 What are the most important elements of a contract?
All provisions of a contract are important. But, if you were to narrow a contract down to its bare bones, you have an offer and acceptance of that offer.
“Offer” - your business offers to do something like perform a service (painting a house) or sell something (software, hamburgers, etc.).
“Acceptance” - someone “accepts” or “agrees” to your offer. This could mean signing a proposal, placing an order, making a payment, telling you to get started, etc.
Without an offer and acceptance, you don’t have a valid contract. A real-world example would be a business putting in a bid for an RFP. That bid can be removed at any time until they “accept” it. Once they do, the business is obligated to perform. If you’re unsure if offer and acceptance has happened - speak with a business lawyer.
#2 Can a deal still be closed on a handshake?
If there is an offer and acceptance, a deal can be closed with a handshake, on a napkin or on a 100-page legal document. But, here’s the deal - if you close a deal on a handshake you are entering the world of “he said” “she said.” With nothing in writing, it is possible that you and the other party view the agreement differently. For example, you could believe that your business will be paid upon delivery. They could believe that they can pay 90 days later. There could be disagreements about the scope of work as well. If there is a disagreement, it becomes difficult to prove what the terms of the agreement were in court because there is nothing to refer to. In other words, as a Severna Park business lawyer, we don’t recommend it.
#3 Can I negotiate a contract?
Absolutely! In the majority of cases, you can negotiate changes to the contract with the help of a contract attorney. This is actually very common and a good way to reach an agreement that is fair for everyone.
#4 Can I sue for contract violations?
Yes, if you have a contract and the other party has violated the terms you can hire a contract lawyer to represent you. The contract itself may have a clause that requires you to go through mediation (negotiations) before filing a lawsuit, something a business attorney can handle. The contract may also have an arbitration clause - a faster process for resolving disputes than going to trial. As a Severna Park business lawyer, the Quinn Law Group offers all of these services and can discuss the options in further detail during a free consultation.
Speak with a Severna Park Business Lawyer About Your Contracts
Don’t risk signing a contract without having an attorney review or create it. To discuss your situation and options, schedule a free consultation with the Quinn Law Group.