MLF - Michael L. Feinstein, P.A. - Attorneys and Counselors at Law
Toll Free: 866-220-8442
Menu Contact

How strong is your business contract?

One of the most important elements of a successful business is a solid contract. A contract is the safety net of a business because it contains the vital details of an agreement between you and another party.

A poorly constructed contract can leave you open to lawsuits and damage your reputation as a business owner. A well-drafted contract can allow you to do business smoothly and improve your chances that customers will return to you. While the specific contents of a contract will vary with each type of business transaction, there are certain factors common to all contracts.

What is in a contract?

If you are doing business with a relative or a long-time customer, you may think a written contract is unnecessary. However, getting the terms of your agreement in writing may preserve those relationships and avoid hard feelings. As you put your agreement on paper, here are some tips advisors recommend:

  • Include the rights and responsibilities of both parties with clear detail, including dates.
  • Make written amendments for any verbal changes.
  • Specify how much, when and how you expect payment for your services.
  • List any reasons why it may be acceptable to terminate the contract and the consequences for breaching the contract, such as non-payment.
  • Address as many contingencies that you can think of and how you or the other party should address them.

You want the terms of your contract to use language all parties can easily understand, avoiding legalese or ambiguous terms.

Preparing for a dispute

The whole purpose of a contract is to have proof of the terms of the agreement. However, even with a contract, one party may remember differently or have a different interpretation of the language in the document. This is why your contract may be incomplete unless you include details about how you and the other party will resolve any conflicts, for example a requirement to seek a resolution through mediation instead of a lawsuit.

Depending on your line of work, there may be other elements that would benefit you if you included them in your standard contract. Florida laws may apply to your business in ways that affect your agreement, and it would be wise to ask an attorney to review your contracts to ensure it offers the most complete protection for your business.

No Comments

Leave a comment
Comment Information

Start Your Recovery Today

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

email us for a response

Fort Lauderdale Office
200 SE 18th CT
Fort Lauderdale, FL 33316

Toll Free: 866-220-8442
Phone: 954-767-9662
Fax: 954-764-4502
Fort Lauderdale Law Office Map

Boca Raton Office
2385 NW Executive Center Drive
Suite 100
Boca Raton, FL 33431

Toll Free: 866-220-8442
Phone: 561-981-6127
Fax: 561-962-2710
Map & Directions

Miami Office
701 Brickell Avenue
Suite 1550
Miami, FL 33131

Toll Free: 866-220-8442
Phone: 305-728-5395
Fax: 305-728-5288
Map & Directions