By: Esqueda Law PLLC
3 Ways Contract Templates Can Help Your Business
While both verbal and written contracts are legally binding, written contracts reduce the possibilities of conflict over one person’s word against the other. Contract templates are ideal in these situations. Contract templates are standardized written forms that can be filled in to suit the specific terms of the arrangement in question. They are often used for recurrent situations. In business, you will need to make several agreements, from the legal structure and ownership rights of your business, down to salaries paid to employees. Contracts change when the terms and conditions change. So, is it a good idea to use contract templates? Definitely.
If you are not sure why let’s look at three ways contract templates can help your business:
- Saves time. All contracts contain basic features of a description of services, the signatories, and the required resources. This should encompass the offer, the intention, consideration, and acceptance of the terms. Having a template saves time and resources to input these features that remain constant from one agreement to the next.
- Ensures consistency and minimizes error. A template leaves little room for the accidental omission of essential clauses to a standard agreement. Errors, omissions, or false information can make a contract voidable, and a party may reject it because of this. A template may help to reduce this particular cause for rejection.
- Sets clear precise rules that the members involved can refer to. This serves as guidelines or reminders that help bring about the successful realization of the contract terms. It is easier for persons to be effective if they have rules or guidelines to follow. A contract serves this purpose since it can be referred to, ensuring that the terms outlined are being adhered to.
Undoubtedly, using contract templates may also have the drawback of not being very flexible in varying situations. Additionally, like many contracts, the legalese may seem a bit overwhelming. However, these factors can easily be overcome with the right approach. Consult a legal professional where possible to reap the full benefits of contract templates. This is where I come in. My name is Liza Ann Esqueda and I am here to help.
Need to strategize? Schedule a free constellation TODAY. Book a free 15-minute call: HERE Liza Ann Esqueda is a trademark & small business attorney specializing in trademarks, copyrights, and contract templates. Liza Ann runs a virtual attorney, serving clients nationwide. Visit: LawyerLizaAnn.com for business tips, free downloads, and course information.