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Can you prevent contract disputes?

On Behalf of | Nov 14, 2019 | Firm News

A bad contract is easy to dispute; a good contract can bind your agreement indefinitely. For those drafting contracts in Virginia, how can you lock in a good deal without a possibility for disputes later on? While you cannot predict whether the other party will disagree with a point of the contract later, you can help ensure that your contract is solid and that disputes will not gain traction.

Forbes suggests that it is crucial to avoid selfish contracts. If you sell a product, do not leave the other party with no remedies if something were to go wrong. To say that the person pays his or her money and holds all of the risk, you may find yourself in a dispute later. While it may sound above board, the truth is that the court can find it unconscionable. Likewise, you cannot create a contract that does not adhere to the letter of the law.

If your contract does not abide by the laws in Virginia or set by the federal government, the courts may deem the contract invalid during a dispute. For a contract that may last for years, you may want to update it regularly. Laws change regularly and if the laws change, the contract will become disputable. To avoid disputes, consider the type of contract you have and adjust it accordingly. Keep your contracts strategic and decide what your priorities are so that you can compromise and make deals that serve you too.

None of the above information is meant to be legal advice. It is for educational purposes only.