My client "Michael" is a successful and very confident businessman. Usually.
A few months ago, he called me in a panic about a breach of contract situation with his accounting firm.
As I read the contract, I began to understand why. So I asked, gently. “Did you read the contract?”
“No,” he said.
Then I asked him, “I’m just curious, why didn’t you read the contract?”
He said, “They told me it was standard. Plus, I was in a hurry.”
Unfortunately, business owners often put their companies in jeopardy when they rush to sign contracts. They don’t read them, or they don’t understand them, and they’re not prepared for the consequences.
It takes just a few seconds to sign your name. But the consequences of signing a bad contract could be huge.
You've all heard the refrain: the devil is in the details. And no amount of clever lawyering can get you out of some bad contracts. The best way to avoid a bad deal is not getting into one in the first place.