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Writing a business contract that protects your interests while balancing your business objectives is critical to your business' success. But while you should get acquainted with the legal terms and processes for writing a contract, sometimes it's best to have an attorney review your contract before it .
You might need to write a business contract any time goods, services, money or anything else is exchanged. All kinds of business relationships thrive on contracts, and entities involved might include individual people, companies, non-profit groups, corporations and organizations.
You need more than a handshake. Make sure it's a done deal with a professional Business Contract. When it's in writing, it's easier to prevent miscommunication because the . Must a contract be in writing? There are laws in Illinois and other states that require certain kinds of contracts to be in writing. The most common are. A contract for the purchase and sale of real estate; A contract that cannot be performed within one year; A contract with certain governmental authorities.
In the business world, most agreements should be in writing even if the law doesn't require it. A written agreement is less risky than an oral agreement, because you have a document that clearly spells out each party's rights and obligations in case of confusion or disagreement. 2. Keep it simple. Some business people tend to ignore the importance of business contracts because they believe they face little risk of a lawsuit. Written business contracts are more legally binding than oral ones, and they help business owners identify -- and avoid -- business partners who might not live up to their word.