Los Angeles businesses may be interested in an article discussing some of the reasons why agreements should be in writing rather than relying on oral contracts or “handshake deals.” In the event that there is a disagreement later, much trouble can be avoided by having a written contract.
When two parties decide to enter into a business arrangement, whether for the performance of services or the delivery of goods in exchange for money, they are usually on good terms. Because of this, it is often hard to imagine the deal going wrong. However, experts agree that this is precisely the time that the two parties should get their agreement in writing. This written contract should contain certain important elements in order to avoid contract disputes or litigation in case something goes wrong down the road.
First, the purpose of the contract should be noted clearly on the agreement. Whether the agreement is for construction of a building or computer repair services, this should be written on the contract. Next, the contract should include the major terms of the agreement. This could be the number and type of goods to be delivered, when they are supposed to be delivered and how much the payment for those goods should be. This completed contract can serve as evidence of the intended deal if one of the parties fails to live up to that agreement.
In cases where there has been a breach of contract, an attorney may be able to help. The attorney may be useful in examining the terms of the agreement and determining the appropriate legal response. This could include negotiating a settlement with the other party or bringing a lawsuit in civil court.
Source: Inc.com, “Don’t Get Stuck With a Jersey Contract“, Matthew Swyers, November 25, 2014