The Importance of a Contract Lawyer
Who needs a contract lawyer?
An experienced contract lawyer can help individuals as well as businesses. Getting advice from an expert before entering into any contractual agreement will help you to understand what you are signing (before you sign it), what your rights are, how you can enforce certain clauses, etc. A contract does not necessarily mean a business agreement; there are other types of contract such as insurance, employment, separation agreements, entertainment, etc.
When can a contract lawyer help:
A) Drafting and reviewing an agreement:
An experienced contract lawyer can help with drafting and reviewing an agreement. When an experienced lawyer drafts an agreement, she will ensure that your needs are met, that you have a clear understanding of each term, your obligations, what happens in the case of a dispute, how to manage loss, what remedies are available in case of breach of contract, etc.
B) Advice before signing a contract:
It is beneficial to have an experienced contract lawyer on your side before signing a contract. Your lawyer will have a better opportunity to make changes to the contract in the event that something is not beneficial to you or might not be in your best interests. This is also the best practice for you as a party, because ta contract lawyer will explain the terms of the contract, will clarify your responsibilities, will ensure that you understand all of your rights, and will explain any ambiguity to you.
C) Advice after signing a contract:
Even post signing a contract agreement, it is very important to ask a contract lawyer to review your agreement. Although the lawyer is not able to change or edit the terms of the contract at this stage, s/he can ensure that you are fully aware of your rights and what to look for if you think the other party may be in breach their contractual obligations. A contract lawyer can also explain what actions may cause you to breach your obligations so that you can avoid being in this situation.
D) Breach of contract:
The expertise and guidance of an experienced contract lawyer in the case of “breach of contract” is crucial. After signing an agreement, it becomes legally binding on all parties. The parties should comply with all terms of the contract. Failure to abide by any terms of the agreement may result in a “breach of the contract”. This is where the role of a contract lawyer becomes crucial so that you can mitigate your losses.
Contact me:
If you require any advice, please contact Sanja Mavrak at (416) 554-4974 who is an experienced Toronto Contract Lawyer to advise you on any of the above matters.
