Entering into a legal contract comes with a number of risks, some more foreseeable than others. As such, it is always recommended to consult with an experienced attorney before entering into contract negotiations, and certainly before executing a contract. Unfortunately, far too many people underestimate the gravity of a contract and therefore go into it without properly understanding the risks associated. More specifically, the language within a contract can often be confusing and thus easy to misinterpret.
Consulting with a legal team is the most effective way to ensure that you fully understand and agree to the contract that you are about to enter into. If not, you are in jeopardy of agreeing to potential financial, compliance, or another type of detrimental agreement. The following are some of the most common legal risks linked to contracts:
- Not fully understanding the conditions within the contract
- Being unaware of strict deadlines or deliverables
- Failing to assess each individual provision
- Misrepresentation during the negotiation process
- Nondisclosure
- General mistakes in the contract language
Without leaning on the expertise of professional legal counsel, you run the risk of signing an agreement upon which you do not fully comprehend. For your protection, you should always consult with your attorney prior to entering into contract negotiations and before executing a contract. Please contact the Law Office of Brenda Murzyn, P.C. if you would like to discuss the impact of entering into a contract and create or review a new contract. Our team of Illinois attorneys are available to speak with you to create a plan at your earliest convenience. Contact us today!
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