Do I really need a written contract?

March 14, 2023

Multiple times since the beginning of 2023, I have seen firsthand the importance of having a written contract in place.  One client I work with had entered into a verbal agreement with a friend to construct a building.  A disagreement arose and now parties are disputing what they actually contracted to do.  This made it difficult to determine each party's rights and obligations, and the dispute ended up costing my client a significant amount of time and money.

There are several reasons why you should always get a written contract when entering into any type of agreement, whether it's with a business partner, vendor, client, or contractor.  A written contract provides clarity and certainty about the terms of the agreement, which can help prevent misunderstandings and disputes down the road.  Additionally, a written contract can help protect your legal rights and interests if a dispute does arise.  Further, many types of verbal contracts will not be enforced by a court... at all.

When drafting a contract, it's important to work with an experienced attorney who can help ensure that the contract is legally enforceable and covers all of the necessary terms and conditions.  Your attorney can also help identify potential risks and liabilities and include provisions that protect you from those risks.

If you are considering entering into an agreement with another party, be sure to ask questions such as:

1. Is a written contract necessary for this agreement?

2. Who, exactly, am I entering into a contract with?

3. What should be included in the contract to protect my legal rights and interests?

4. What are the potential risks and liabilities associated with this agreement, and how can they be addressed in the contract?

5. How can I ensure that the contract is legally enforceable and complies with all relevant laws and regulations?

By asking these questions and working closely with your attorney to draft a comprehensive, legally enforceable contract, you can help protect your legal rights and interests and minimize the risk of disputes down the road.  If you are interested in our firm helping you with drafting a contract or a contract dispute, please visit our "Contact Us" page or give us a call at (308) 728-3676.

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