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    Hire a lawyer to look at contracts?
    Should you always hire a lawyer to look over business contracts before signing?

    This might be contracts you write up for your employees or maybe contracts between partners. It could even be contracts with vendors and suppliers. Just how important is it to have a professional look over them before signing them all?


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    If the lawyer is willing to take your case, ask about charges for services. You will receive a contract referred to as a legal services agreement, that the lawyer should explain to you. Carefully read and understand the document before you sign it. At that point or before services are rendered, you will also be asked to pay a retainer or deposit.


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    If you can understand the terms and conditions clearly and there aren't any vague provisions, you should be okay but if it is a bulky contract with lots of provisions that you aren't sure about better hire a lawyer to take a look at it.


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    Yes, absolutely you should. Considering that the cost for such a review is relatively minor compared to a big legal headache down the road. Anything beyond the most basic forms, I have an attorney look over.


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    It really depends on the size and type of business, who you are signing these contracts with etc. I personally would very rarely consult a lawyer, but in some situations it would be better to be safe than sorry. (for example, if you have a big contract with a foreign supplier you've never worked with before)


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    #6
    Join Date
    Mar 2014
    Location
    Cornerstown
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    17
    Lawyer's services are costly, not to discourage you or anything, but if you can understand the contract on your own or if its contents are easily understandable, as fredkawig suggests, you could probably work on it on your own. For certain work-related contracts, both parties (the employer and employee or business A and business B) are normally given up to 72 hours to read and understand the provisions of the legal document before signing it. Whether you choose to take it to a legal expert for further review is up to you. This happened at my previous job-- I was given a few days' training and around 2-3 days to read the contract before signing it in the presence of HR personnel.

    I guess hiring a lawyer also depends on the nature of the business or legalities involved in the business. If I recall correctly, some contracts require notarization by a lawyer. Other contracts, like those made for larger deals involving a lot of people or assets are often delivered by a lawyer or signed in the presence of lawyer. If you find yourself in such an arrangement, you'll need to bring legal experts with you.


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    If you have the money to spare, then yes. I'm pretty good reading contracts myself but sometimes, it can come down to a single word and usually lawyers are better at catching that kind of stuff especially if they're experience in these types of situations. Otherwise, you're gonna have to spend a lot of time and effort digesting each word in the contract.


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    Yes, I think it's a good move as an expense, since you'd probably be saving yourself a lot of headache and problems down the line with payment at present. If the transaction is big enough, then I'd say it is definitely worth it and it is most likely a must. I think the prices are probably reasonable anyway, and at least this way, as I've said, you get to save yourself from a lot of confusion and possible mistakes and you get to save yourself some time too which you can then just put to use elsewhere.


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    #9
    Join Date
    Mar 2014
    Location
    Pretoria, South Africa
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    If you can afford the cost of having a lawyer look over the contracts, then get it done. Lawyers will highlight risk areas and will ensure that you are covered as an individual and business. This can save you a lot of money when things go wrong. When you can not afford a lawyer you can download generic forms and contracts from reputable sites on the Web and edit them.


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    hiring a lawyer is a most tactical practice .if you find wrong lawyer then you will end up with loosing money and case.


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