Why get a contract reviewed?

Getting a contract reviewed is of critical importance to your business.

In many respects, your business is the sum total of the contracts you sign. If you sign bad contracts, then that can have devastating consequences for your business.

Every single contract you sign should be properly reviewed.

And remember – the value of a contract is no indication of the potential liability you might face under that contract. A small value contract can expose you and your business heavy liability.

Here are three reasons you should get your contracts reviewed:

  1. It ensures that you understand what you are signing.
  2. It ensures that the terms are legal and lawful.
  3. It helps to prevent future legal problems.

More importantly, you need to make sure it doesn’t include any loopholes that could work against you. Truthfully, contract review is a long process with a lot of legal terminology mixed in. This is why contract review lawyers exist.

A contract review lawyer can examine the contract, explain the contract to you, and even suggest changes that are in your best interest.

Why use a lawyer?

A contract is a complex document. The complexity arises from a number of factors:

  • Terminology – Certain words have a particular meaning under law. A lawyer is trained to recognise and understand the implications of those terms;
  • Implied terms – A contract may include implied terms. These implied terms might arise from legislation, or from the very conduct of the parties. Whether a term may be implied into a contract is of course a legal question, and one best answered by a lawyer;
  • Convention – Certain categories of contract adopt a particular form. A suitably experienced lawyer will have an understanding of the appropriate form.

A contract review lawyer can examine the contract, explain the contract to you, and even suggest changes that are in your best interest.