Be Careful What You Sign: Red Flags in Commercial Contracts
Posted on May 19, 2015 by TURNER PADGET LITIGATION TEAM
When businesses sign a contract, they’re usually focused on the opportunity it represents – a new customer, a better supplier or a partnership that expands their reach. Unfortunately, when we, as lawyers, see some of these same contracts, it’s after the air has gone out of such expectations and a deal has soured.
While our best advice is to have every contract reviewed by your attorney, we realize that most businesses aren’t going to do that for every agreement. If there is a lot of money – or risk – involved, consider asking your attorney to review a contract – a process that usually isn’t time consuming for legal counsel familiar with your business.
However, in those cases where you choose not to make a call to your attorney, here are some things to watch for based on our experience.continue reading