It’s easy to get confused or bored by a long and wordy legally binding contract but don’t even think about signing until you’ve read it completely. Remember that legally binding means that you are agreeing to all terms and conditions stated on the document by signing the contract. Even simply reading a contract isn’t enough, however; you should be able to feel confident that you fully comprehend which sections are negotiable and non-negotiable. Was there anything that didn’t feel right or that you felt might need to change before leaving your signature? You have the power to choose to work with a Reno corporate services attorney who can assist you in making proper negotiated changes to create a better contract for you.
Contract Negotiations and Review
Legal provisions to a contract can be negotiable between parties. Some legal provisions that can alter the economic and legal outcomes of a given contract can be quite damaging. This is a key reason why it is so valuable to review a contract: to decide whether or not there are any aspects that may be negotiable, are fine as is or may need to be rejected. Making these decisions alone can be a challenge at best, and it is always a good idea to seek the legal counsel of a Reno corporate services attorney.
The Attorney Fee-shifting Provision
A common legal contract provision is the shifting of attorney fees. The provision may affect attorneys representing both parties because it means that one party might be required to pay for the other side’s costs as well depending on the context of the situation within the contract. It is well known that each party must typically pay for its own Reno corporate services attorney according to American Rule. However, when the shifting of fees comes into play, the typical arrangement of payment can be changed. The dominant party will often be the side to provide attorney fee-shifting. However, it can be highly advantageous for the party responsible for paying all fees to have a contract that agrees with the traditional American Rule: both sides are responsible for their own respective attorney fees. Going with the American Rule will aid in avoiding the risk of one party paying for everything if a contract dispute occurs at a later date.
The Next Steps
Far too often, parties do not review contracts properly and provisions that could have been negotiated earlier are no longer flexible. This is why it is absolutely vital for every company and individual alike to review contracts thoroughly from the get go to avoid costly consequences such as the shifting of fees.
Contacting a proper Reno corporate services lawyer like Garrett Sutton can help you take the first steps to understanding and mastering your important contracts. Garrett has many years of helping clients with contracts of all types and can be contacted at 800-700-1430 during business hours.