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Harry Williams
Attorney and Counsellor at Law

Professional, Practical, Prompt
220 East King Street, Suite 110
Johnson City, TN 37601-0110
Tel 423.773.3382
Fax 423.328.8434
Email: harrywilliams@charter.net

signing contract

Contracts

A "contract" is defined as an agreement with specific terms between two or more persons or entities in which there is a promise to do something in return for a valuable benefit known as consideration. Since the law of contracts is at the heart of most business dealings, it is one of the three or four most significant areas of legal concern and can involve variations on circumstances and complexities.

dice

 

Although we come in contact with contracts on a daily basis, many of us do not read the contracts before we sign them. Failing to read a contract before signing it, is kind of like playing dice - you never know whats going to come up.

 

Four Reasons People Sign Contracts Without Reading Them?

  Reading the contract is just a waste of time. I need to hurry before he changes his mind.

If I want to do the deal or purchase the car or buy the house, I have to sign the contract "as is" without making any changes! "

It is a lot of legalease and mumbo jumbo. I will never understand it so what's the purpose?

 I don't want to appear ignorant! I need to sign and not ask any questions. Everyone does that! What's the big deal?"

Things that Happen When You Don't Read the Contract?

•  "What do you mean there is no warranty?"

•  "My interest rate increased to what?"

•  "Grandma left her farm to the cat?"

•  "All I get is $100 a month?"

•  "There is a $10,000 deductable and it only pays the next $5,000?"

 "The commission is how much?"

  •  "I don't get my money till when?"

Be Practical

reading contrafcWe all know that in the course of our everyday lives, there is not enough time to read credit card receipts, traffic tickets, all that stuff they give you with your prescription, utility and cable bill applications, and all those other minor "here sign this" things, but you need to do a better job when it comes to the major, important documents in your life and if you don't want to read them or you don't understand them, give us a call.

Important documents include but are not limited to:

•  Last will and testament

•  Insurance policies

•  Pre-marital agreements

•  Post-marital agreements

•  Real estate sale and purchase contracts

•  Adoption papers

•  Investment contracts

•  Warranty and services agreements

What to Do

Take a few minutes, call an experienced lawyer and get someone to read and explain the document to you before you sign.  Chances are the other party to the contract has a lawyer and so should you. Remember, an ounce of prevention is worth a pound of cure.