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The In’s and Out’s of contracts

Posted on January 21, 2021 in Firm News

Have you ever been in a situation where a contact is needed but you don’t know the first thing of what you need or where to go? Well we are here to help. At some point in our lives we get presented with overwhelming tasks of reading and signing a contract. As most know, a contract is a mutual agreement between a buyer and a seller. Throughout the years, contracts have changed and more have been created. These contracts assist those in agreement to stay within the written agreement of the contract.

In the past, people did not have a legal system to assist them in being accountable. People took matters into his or her hands and utilized collateral or doing free work. This system helped the “seller” in receiving his or her portion of the agreement. Now this agreement was flawed. Many “buyers” over a long period of time may be mistreated and not ever pay back the loan at hand or vis versa. As time went on people found better ways to negotiate a deal. Thus came contracts.

Through this series of blogs we will cover the different types of contacts that are used in our everyday lives and what we should look for.
After this series you should have a good grasp of what a contract is and know if it is one you should be signing.

Contracts that will be discussed in the upcoming blogs will be:
1. Bill of sale.
2. Employment agreement.
3. Licensing contract.
4. Non disclosure agreement
5. Promissory note.

For more information contact us here at Ken Ashworth and Associates