Contracts 101: read this before signing

Before signing any contract it is very imperative that you read and understand what you are signing. A contract is a legally binding agreement between two or more parties and sometimes are not that easy to break. A contract does not have to be in writing it can also be verbal. However, having a contract in writing is within everyone's best interests as it protects both parties.

Before signing any contract you should read it carefully and in its entirety. Make sure the contents of that contract is accurate and state exactly what both parties agreed upon. If it is not written it is not agreed upon and it is not guaranteed.

Reading the contract thoroughly can ensure that there is no misinformation or terms that were not agreed upon. It is important that you understand what it is that you are agreeing to. What are the terms of the contract? What are your duties under the contract? What are the other party’s duties under the contract? What are the terms of default under the contract? When does the contract terminate? Be sure to look for the answers to these questions while examining the contract.

Once you’re satisfied with the contents of the contract you may sign and in some cases notarize it to make it legally binding. However, if the contract includes something that was not agreed upon, or something that you do not quite understand you can always enlist the help of an attorney. An attorney can thoroughly review the contract for you to ensure the contract follows the applicable laws and is within your best interest.