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Get it in Writing By
David Day |
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While some oral contracts can be valid, there are certain contracts the law
requires to be in writing. These include contracts involving the sale of
land, the sale of goods valued at more than $500.00, consideration of
marriage (such as prenuptial agreements), and the discharge for debts of
another, among others. In general, it is best to get any contract in writing
if it involves something you cannot afford to lose. In such cases, it is
usually a good idea to use an attorney to draft a contract that spells out in
exact, detailed terms what the parties can expect from one another. It should
also .limit the possibility of future legal problems.
In my experience, many clients are "penny wise and pound foolish"
when it comes to such transactions. Many lawyers are hired to resolve or
litigate contract issues for fees involving thousands of dollars that could
have been avoided by early legal consulting for a fraction of the litigation
cost. Don't think leaving a lawyer out of the equation will "save you
money." Oftentimes, just the opposite is true. |
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