19/03/2024
I hope your business deals are not done by handshake. Handshake may work until the unexpected happens. I mean people change, events unfold, people lie, people relocate, etc if any of these happen, the only proof of contract would be the parties' words.
At this point, parties will only recall terms favorable to them 😅
Someone once said, to sign agreements like enemies and do business like friends😁 because upon signing the agreement it becomes binding on parties whether the relationship sails or not
In business, contracts are very important because they outline expectations for parties, they protect parties if those expectations aren’t met.
In the event of a breach of the terms by either party, your written contract acts as proof and makes enforceability easier for your lawyer to obtain damages for the action or inaction of the defaulting party
PS: Note that it’s not just enough to scribble words. Contracts must be written in clear terms, must protect your business, must be unambiguous, and must specifically outline the rights and responsibilities of parties
Make sure you hire a lawyer to draft these contracts or review agreements before you sign them. You might just be signing your property away.
Click the link in the bio, send a DM, and Call 08156731395 for contract review, drafts, Trademarks, or CAC registration
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