Skip to main content

Are you bound to a business document you failed to read

David Steinfeld MH Judicial Edition Award
With a few exceptions, generally yes, you are bound to a business document you signed even if you did not read it. Sophisticated businesspeople do not gamble on the exceptions. They consult with a good business attorney to ensure that their rights and interests are adequately protected. Doing helps them to fully understand the terms so they can make the business decision whether or not to sign the agreement.

What makes up a contract

Under Florida law, contracts are ordinarily required to have three legs on which they stand. They must contain an offer, must be accepted, and importantly must have consideration. Not all contracts have to be written, but without a writing trying to later prove what was agreed, like the terms and the performance by each party, may prove very difficult. So, the simple solution is just to have written agreements preferably prepared by your business lawyer.

Can I write a business contract without a lawyer

Business contracts do not have to be formal, lengthy writings with arcane legal terms. Any writing that defines the parties rights and obligations can be considered a contract, even an e-mail exchange. But unless you have the knowledge of an experienced business lawyer, trying to do it yourself may lead to very expensive and complex problems later. Further, getting advice from a business or contract attorney provides objective advice that can result in a better and stronger agreement and even reduce the costs of a future disagreement.

Occasionally the question arises whether you can obtain important business documents like contracts, operating or partnership agreements, non-competes, and non-disclosure agreements from another professional like your CPA or accountant. Unless that person is also an experienced business attorney, the answer is no because that party lacks the experience and understanding necessary to properly draft those important documents. While they may have good intentions and it may seem reasonable to cheaply obtain important business documents from another professional like a CPA that assists your business, the problems that this can cause may become insurmountable and can even lead to the demise of your business.

Do I have to hire a lawyer to draft my contracts

In Florida, people involved in business enterprises are deemed to be sophisticated individuals. Because of this, it is prudent for any business to have it attorney review proposed agreements as part of the due diligence process in any transaction. Also, by so doing, managers, officers, and directors of the business can insulate themselves from claims of malfeasance by the members or shareholders.

Written by expert business lawyer David Steinfeld

business lawyer David SteinfeldDavid Steinfeld is one of the few Board Certified business law experts in Florida. He has been licensed for over 25 years. He is AV-Preeminent rated, ranked as one of the Best Lawyers in America by U.S. News and World Report, and consistently named a Florida Super Lawyer and one of Florida’s Legal Elite. Dave has also received Martindale’s prestigious Judicial Edition Award for high reviews by Judges, its Platinum Client Champion Award and has a 10.0-Superb rating on AVVO as well as a 10.0 rating on Justia, lawyer reviews websites.

Check out business lawyer David Steinfeld online for helpful videos and articles on Florida business law, real estate disputes, and electronic discovery solutions for your business. This article is provided for informational purposes only.
Labels:
Location: 3801 PGA Boulevard Suite 600, Palm Beach Gardens, FL 33410, USA

Comments

Post a Comment

Popular posts from this blog

Business lawyer holding you back?

Even before the coronavirus pandemic occurred technology to allow businesses to operate remotely dramatically increased. The practice of law embraced those technologies making it easier for business lawyers to provide cost-effective and efficient services to their business clients. So the operative question is whether your business lawyer has embraced these technologies and is responsive to and keeping up with your business. Technology has changed business law When I was a very young attorney I had a case against an older and very experienced attorney. He claimed that his client did not have to pay my client back on a promissory note because of a certain case precedent. Unfortunately for him the case on which he built his entire defense had been overruled and was no longer good law. In just a few seconds using electronic research I was able to find that out. That attorney was still looking cases up the old way in books and was unfamiliar with and unaccustomed to electronic research. As...
Post a Comment
Read more

Documents you can use to legally protect your business

In addition to representing businesses in disputes, business lawyers provide advice and counsel to help business owners avoid trouble. Aside from a house or large boat, a business is likely the largest investment of time and money that a person can make. Failing to plan for success and growth with the right corporate governance and business documents can jeopardize that investment. A good business plan includes proper legal documents Most businesses start with an idea. They grow based on advertising and the quality of their goods or services. Therefore, most business owners invest their time and money to promote their business and in obtaining those goods or services. But sophisticated and successful business owners plan for their own success by incorporating solid contracts and other legal documents into their business and putting corporate governance documents in place. What contracts should I have in my business A business, like a building, has an exterior and an interior. Dealing w...
Post a Comment
Read more

How to plan for a transition in your Florida business

Business transition planning is preparing for the handover by sale, but-out, or take-over following the demise of the owner. This is accomplished through corporate governance documents like an operating agreement or partnership agreement. What is a business transition A business transition can be defined as any change in the ownership or management of a business. This can occur when the stock of business is bought out. This commonly occurs when the buyer wants to obtain licenses held by the business as opposed to obtaining their own licenses or permits. This transition can also occur upon the retirement or demise of the owner or owners. With multiple owners the surviving owners may inherit the ownership but this is not a foregone conclusion. Without proper documentation addressing this situation the survivors of the owner such as a spouse, children, parent, or other beneficiaries may inherit the ownership through operation of a Will of by law if there is no Will. Having family members ...
Post a Comment
Read more