A contract is basically an agreement between two parties or more that is intended to have the force of law and binding. It is not every contract that is written, as some may be oral too. But, for a contract to be binding, it must be in writing. It is common to find cases where an unwary party or parties is disfavored by indistinct clauses contained in a written pact.
Therefore, here are practical steps you must take before inking a contract:
- Read thoroughly: Do not be in haste of signing a contract. Read and digest every word, line after line till the final period in the contract document.
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A contract should be written in a manner understandable and digestible to parties. Therefore, you must clear yourself of any doubts and ask questions, where necessary.
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Do due diligence: Carry out a research or ask questions about the person or business with whom you are entering into a contract.
- Seek a professional advice or consult an expert to review your contract.
- Ensure your contract is dated; when it is to commence and terminate.
- Check the numbers of each page of the contract to ensure none is missing or deliberately kept away from you.
- Ensure you have a copy of the contract too.
