215-482-0285
Philadelphia Business Lawyer Sarah E. Holmes
  • Home
  • Attorneys & Areas of Law
    • Business Entities >
      • Corporations
      • Limited Liability Company (LLC)
    • Business Purchase or Sale
    • Raising Capital & Investor Agreements >
      • Promissory Notes and Debt Financing
      • Private Placement and Equity Financing
    • Business Contracts >
      • Consulting Agreement
      • Employment Contracts
      • Independent Contractor (1099) Agreements
      • Website Terms and Privacy Policies
    • Copyright & Trademark
    • Hiring Employees/NDA/Non Compete
    • Succession Planning
    • Commercial Lease
    • The Right Start Program
  • About
    • Speaking and Events
    • Webinars
    • Client Testimonials
    • Privacy Policy/Terms of Use
    • Contact
  • Business Success Tips
  • Flat Fee Packages
    • New Businesses
    • Existing Businesses
    • Dispute Resolution
    • Trademarks & Copyright
    • Succession Planning
  • Reviews
215-482-0285

Basic Steps To Write a Contract

10/23/2018

Comments

 
Picture
 
Contracts are an important element to doing business, but how do you know you are creating a strong contract that covers all of the elements you need?
 
Put it in writing!
 
Verbal agreements do hold some weight, but ultimately they can be hard to enforce. Never take that risk, always get your terms in written down in plain and easy to understand language.  Legal language might look impressive, but if no one knows what it actually means, it will be extremely difficult to argue there was a meeting of the minds.
 
Correctly identify all parties!
 
As obvious as this may seem, not using correct legal names is a common mistake. Make sure the proper names of all parties are used and DBA is correctly applied if using business names.  If it’s between legal entities, then make sure the entities are listed, with an individual with authority signing on behalf of the entity.
 
It’s in the details!
 
Make sure to clearly outline the terms and conditions of the contract. Anything that has been previously verbally agreed upon should be added as well. Items that are mistakenly left out can be added with an amendment, generally only if both sides agree. Typically all terms should be in the original contract. Outside oral agreement will generally not be enforceable.
 
What happens upon termination?
 
Termination is not something you want to think about, but it needs to be covered in your contract. Not only do you need to include a termination date but also clauses that cover what will happen if one of the parties is in default of the contract. This is also a good section to add dispute resolution terms.
 
Still not feeling confident? No worries an experienced contract lawyer can look over your contract before you head to the signing table and help you correct areas that need more attention or have been accidentally left out.  Need a new contract drafted?  Feel free to reach out to our office for help and a flat fee quote.

comments powered by Disqus

    Author

    Sarah E. Holmes is a Philadelphia business attorney and strategist that helps start ups and established businesses looking to expand, protect their assets and increase their profits in an approachable, down-to-earth way.  When you're looking for a business lawyer in Philadelphia, the Main Line or New Jersey, we can help.

    Categories 

    All
    3D Printing
    3D Printing Classes
    Affordable Care Act
    All
    Amanda Steinberg
    Authenticity
    Best Business Books
    Business Agreements
    Business Breakfast Seminar
    Business Funding
    Business Lawyer Near Me
    Business Partners
    Business Plan
    Business Purchase
    Business Social
    Capital
    Certified Women Owned Business
    Charles Baudoin
    Commercial Lease
    Contract
    Copyright
    Corona Virus
    Covid 19
    Credit
    Dailyworth.com
    Disruptive
    Documents
    Due Diligence
    Employees Vs Contractors
    E-myth
    Etsy Sellers
    Finance For Women
    Food & Founders
    Forbes
    Forbes 30 Under 30
    Force Majeure
    Franchise Agreements
    Funding
    Hiring
    Honeygrow
    How Did She Do That
    How To Get Press
    How To Get Product Distribution
    How To Hire Employees
    Insurance
    Internet Business
    Lawyer For Commercial Lease
    Lease Default
    Letter Of Intent
    Llc
    Loan
    Manayunk
    Mindset
    Monica Lewinsky Speech
    Name Registration
    New Jersey Small Business Lawyer
    New Year
    Nextfab Studio
    Non Compete
    Obamacare
    Oculus Rift
    Operating Agreement
    Operating Agreements
    Owning Your Own Business
    PA Conference For Women
    Partnership
    Philadelphia
    Philly Maker Week
    Philly Manufacturing
    Resolutions
    Sara Blakely
    SBN
    Should I Quit My Job
    Small Business Advice
    Small Business Coaching
    Small Business Lawyer
    Small Business Week
    Start Up Business
    Start Up Business Reading
    Taking A Vacation When Self Employed
    Tax Season
    Trademark
    Trademark Registration
    Under 30 Summit
    Waivers
    Women In Business

    Archives

    May 2022
    April 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    June 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    May 2017
    April 2017
    December 2016
    November 2016
    October 2016
    September 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013

Vertical Divider

Holmes Business Law, P.C.

​1515 Market Street, Suite 1200,
Philadelphia, PA 19102

___________________________
40 E. Montgomery Avenue
4th Floor, Ardmore, PA 19003
​
​© 2022 by Holmes Business Law P.C.
All rights reserved.
Vertical Divider
ATTORNEYS & AREAS OF LAW 
Business Entities
Business Purchase or Sale
Raising Capital & Investor Agreements
Business Contracts
Copyright & Trademark
Hiring Employees/NDA/Non Compete
Succession Planning
Commercial Lease
The Right Start Program
Vertical Divider
BUSINESS SUCCESS TIPS 
ABOUT 
Speaking and Events
Webinars
Client Testimonials
Privacy Policy/Terms of Use
Contact
FLAT FEE PACKAGES 
New Businesses
Existing Businesses
Dispute Resolution
Trademarks & Copyright
Succession Planning
REVIEWS

​All site content is subject to copyright 2021 by Holmes Business Law P.C.
This website and its content herein constitutes attorney advertising.  Any content on this website should be construed as informational, not legal advice.  No information on this website is intended to create an attorney-client relationship.  Only a signed fee agreement between Sarah E. Holmes and the client will establish an attorney-client relationship.  Use of any information on this site is provided "AS IS" with no warranty of any kind, either express or implied.  Always consult with a licensed attorney in your own state for legal advice.
Photo used under Creative Commons from AK Rockefeller
  • Home
  • Attorneys & Areas of Law
    • Business Entities >
      • Corporations
      • Limited Liability Company (LLC)
    • Business Purchase or Sale
    • Raising Capital & Investor Agreements >
      • Promissory Notes and Debt Financing
      • Private Placement and Equity Financing
    • Business Contracts >
      • Consulting Agreement
      • Employment Contracts
      • Independent Contractor (1099) Agreements
      • Website Terms and Privacy Policies
    • Copyright & Trademark
    • Hiring Employees/NDA/Non Compete
    • Succession Planning
    • Commercial Lease
    • The Right Start Program
  • About
    • Speaking and Events
    • Webinars
    • Client Testimonials
    • Privacy Policy/Terms of Use
    • Contact
  • Business Success Tips
  • Flat Fee Packages
    • New Businesses
    • Existing Businesses
    • Dispute Resolution
    • Trademarks & Copyright
    • Succession Planning
  • Reviews