There are plenty of free contracts on line – but as the saying goes, you get what you pay for.
So if you want your contract to achieve the intended result – chances are you will have to pay for it. The document may look like it is suitable for your purposes, but (as the saying goes) the devil is in the detail!
As experienced lawyers, we know that when a client uses a free template contract and something goes wrong, the contract or the provision that is meant to underpin the entire deal may fail. The consequences can be catastrophic.
Some common mistakes made when using free templates include:-
- Not identifying the correct parties.
- Using an overseas contract. American law or English law and Australian law are not the same.
- Not using an up to date document, for example one drafted in 2001 and not when the contract is entered into. Remember, the law changes often.
- The use of uncertain terms. For example, an agreement to agree cannot be enforced.
- Poor expression. When poor English is used and/or words are not defined, then the clause may have an unintended consequence or in the worst case, will be unintelligible.
- Not addressing the commercial risks of the transaction and its consequences. This will often happen if the agreement is drafted for the benefit of one party only.
- Not including important terms – the courts cannot imply terms just because one side forgot to include it.
To find out whether or not the contract has achieved its intended result or if a particular provision works as intended usually occurs when something goes wrong; and is then identified as an expensive mistake. In terms of legal costs, it is almost always cheaper to have the contract drawn up by a lawyer in the first place than to try to save the deal.
Contact us now for a fixed price quote for the contract you need.
This article is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader’s specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact us.