When it comes to Maryland contract law, there are many mistakes, blunders and miscues which can end up being a major headache for you, or even a financial burden. The best way to prevent them is not only to work with reputable and experienced small business attorneys in Maryland, but also to know more about them ahead of the game. Whatever you do, avoid the following 5 terrible Maryland contract law mistakes.
No Attorney:
You can draft up your own business law contracts, and make sense of the simple, short ones which are given to you, right? Maybe. But more likely you pass over something, misunderstand the verbiage of a clause, or fail to protect yourself due to an exclusion or poor language choice. The worst mistake of them all is not hiring experienced Maryland small business attorneys to protect yourself and to either create a contract, review it, or negotiate the details of it.
Short Term Interests:
If you’re not careful, the business law contracts you sign today can turn from favorable to awful over a period of years or when certain conditions are met. Don’t let yourself get trapped in a situation where only your short term interests are protected, and you become increasingly exposed or unfavorably represented over time.
Trading Terms:
Don’t simply trade terms with your Maryland business law contracts. In other words, if clause A is greatly in the other party’s interest, you just throw in clause B, which is in your own favor. Making these tradeoffs can greatly backfire, especially if you’re not fully understanding the implications. Let the small business attorneys you hire negotiate the contract and pour over the fine details, and ensure you get as much of what you want and need as possible.
Benefit of the Doubt:
Unfortunately, small business attorneys deal with nice people who simply gave too much benefit of the doubt to somebody else all the time. Don’t think your long-time friend, family member, employee or partner will completely abandon you and do something directly against your interests? Think again. Hopefully it never happens, but legally, your business law contracts should never forego important clauses to give somebody the benefit of the doubt.
Making Assumptions:
Don’t make an assumption that can harm you later, such as assuming how much more you’ll be able to afford, or how much less of something that you’ll need due to improved circumstances. You should hope for the best, but never make assumptions which can then lead you into disarray.
Remember, the biggest mistake of them all is simply not hiring the right small business attorneys in Maryland. They’ll protect you and your overall interests, and ensure that nothing unforeseen or unfavorable is in the business law contracts you sign and rely upon.
Call the Law Offices of Brandon Bernstein at 240.395.1418 today for a free consultation to see how we can provide your business with Maryland contract law assistance.
Disclaimer
The information and materials on this blog are provided for general informational purposes only and are not intended to be legal advice. Read our full disclosure here.