How Contract and Legal Document Drafting Can Help in Your Business?
August 09, 2018
In business, there is an uncountable number of legal transactions, and none of them are the same. Contracts – for instance, are legal documents that formalize an agreement between two parties in a business, this suggests that every contract meets specific needs and describe in detail what each side are committed to do.
Our intention in this blog post is to provide you with valuable information that helps you understand how important is to have your business' contract and legal documentation drafted by an experienced Colombian lawyer and all the benefits that this will bring to your company. When it comes to contracts, lawyers know best! They will guarantee the maximum protection of the law to your business and the subsequent success of the deal.
The first step to start a contract drafting process is listening to the client before anything is written yet. It is crucial that the client explains in detail every aspect that needs to be included in the deal, and we as lawyers, make sure to understand your business and the type of negotiation you want to make to finally provide a successful contract.
The purpose of a contract is to protect both sides' rights and interests without being concerned about trust – which is a common problem in business, whether they are relatives or not. Any legal document must be legally enforceable, this means that if one of the parties fails to their responsibility, the injured party has the law on their side and can start a contract dispute to enforce what is written on it.
In order to make a contract legally enforceable, the company and the lawyers must discuss some essential features that should be well defined during the contract and legal document drafting. These features are:
- Offer: The offeror establishes the terms of the contract, in which both sides commit to act or to abstain from acting in a particular situation; it can be accepted or declined by the offeree.
- Acceptance: The offeree expresses their total and unconditional agreement of the terms according to what is specified in the offer, either by a call or in person, by a signature or by a handshake, etc.
- Consideration: This represents the bargain part that must be present in any offer, the exchange of values – not necessarily has to do with currency, it can be the promise to perform or refrain from an action.
- Intention: Offeror and offeree exchange the promise of performing their obligations in order to create legal relations whether they are social/domestic or business/commercial.
- Certainty: In any contract, terms must be sufficiently precise to be enforced by a court, otherwise it will be considered incorrectly or negligently drafted and as consequence rejected by the court.
It is not mandatory that a lawyer drafts the contracts in a company, however, successful business rather having a lawyer write all their legal documents. Lawyers specialized in contracts and legal document drafting has the experience and knowledge to create contracts as clear as possible, using the exact language to express all that you want to state on it and make it enforceable. We must keep in mind that any document can be a source of legal obligations since it represents responsibilities in front of its contractual counterpart. For this reason, we must understand the importance of having a contract as a concurrence of wills aimed to generate obligations between two parties, where both will be comfortable with every word on it so that you can move forward with your business.
Contract law establishes two types of contracts, written and oral. Most of the people may think that contracts must be written to be enforceable, but oral contracts are as valid as written ones. However, in business is preferable to be as clear as possible, so written contracts are always the best option. This type of contract – unlike many people think, is not a pile of white paper with a lot of dotted lines to sign, on the contrary, specialized lawyers know how to draft a contract as understandable as possible for both the company and for the employee and keeping a formal vocabulary.
Advantages of Having a Lawyer Draft Contracts and Legal Documents in your Business
The knowledge acquired by contract in years of experience will guarantee you that every comma has the right place and that all your wills are expressed in the document, to avoid the waste of time or misunderstandings from the other side.
These are the three main advantages of having a lawyer draft your contracts and legal documents:
- You can rest assured that your contract is legally enforceable. From the beginning of the process the lawyer makes sure to listen and understand your needs and intentions, then, they will include this information in the contract using the suitable vocabulary required in legal documents.
- In business, settled accounts keep old friends. The best way to avoid blurred ideas or intentions is having the service of a contract lawyer to show your offer as clear as possible.
- Lawyers provide you with a legal perspective of the terms of the deal. Sometimes we want things to be done in a particular way, but we're not sure if that is legally enforceable and here it's where the experience of a lawyer plays an important role.
Are you thinking of looking for a contract lawyer? Whether you are in Colombia or abroad, you count on the services of AGT Attorneys. We are a reliable law firm in Colombia with allied firms in different countries around the world that offers you the best contract and legal document drafting service that will meet all your needs. Our contract lawyers will provide you with counseling and representation in everything regarding business matters. Contact us at +57 1 702-3671 or fill our contact form below. We'll be glad to assist you!
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