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Know Your Contracts!

Know Your Contracts!

When entering the world of business you will inevitably start dealing with contracts, either you will be sent one to sign or you will need to create one to present to a prospective client or partner.

Before you go rushing ahead and signing on the dotted line, why not take a short while to learn a bit about contracts – it’s always important to know what you are signing!

Just getting a grasp of the basics will give you a head start. When reading or writing contracts it is always advisable to seek professional legal assistance to ensure that you are covered from every angle; but knowing your contracts and how to put one together will help you at least have a basic understanding. If you need to make a contract and you have this basic knowledge, you can draft up a contract and then you can have it looked over professionally after,  this can save you money in expensive legal fees.

So where is a good place to start learning about contracts? Well we found a nice little website that gives a lot of useful basic information to get started, this website is ContractLaws.co.uk – On this website you can find lots of FREE information about contracts, contract law in general, a glossary of legally binding contract terms and information about scenarios such as breach of contract. You can even find free sample contracts there to use as a starting point for making your own contracts.

contract law

Now you may notice that this website is written based upon UK Contract Law, however much of this will transpose into other territories. You can use this website to brush up on the basics and when you are feeling like getting more advanced you can check out some local legal education if you feel like really getting into this field and then you can become an expert in your field and territory.

Knowing about contracts will help you not only in business but also in your life as a whole. Many people sign contracts every day and they don’t even know it! … For example – when you sign up for a monthly mobile phone plan, electricity supplier or car insurance you have probably signed something and didn’t realise it is in fact a contract with lots and lots of terms and conditions. Even a receipt from a shop is a form of contract and will have its own fine print, worded in a way that most people simply won’t understand, not to deliberately confuse you but such is the nature of legal wordings and jargon unfortunately.

So what are you waiting for? Go ahead and learn a bit about contracts and contract law – then thank us later!