Business transactions range from the mundane service contracts that customers sign every day to the purchase of major machinery that serves the heart of the business’s operations. No matter how big or how small the transaction, it’s important to carefully follow the legal process to reduce risk and avoid unnecessary losses.
For routine transactions, boilerplate contracts may do the job but only when you fully understand what is in them. The job of a contract isn’t to act as a formality on a transaction that goes well but to assign the loss when something goes wrong. Each contract should be carefully reviewed by an attorney to ensure that it covers all eventualities before it is put into use.
For more significant transactions, such as a large equipment purchase, a custom contract will almost always be preferred. This is so that any special considerations can be taken into account. For example, is there a range of acceptable deviation from the project specifications or is an exact match required? Could a delivery that’s even one day late cause a significant loss that won’t be reimbursed without a special contract provision?
While an attorney may seem like they are asking too many pessimistic questions or even trying to kill a deal, their job is to protect the business from the unexpected. In 25 years of practice, John has seen countless businesses involved in disputes that they never even imagined were possible. As a former CEO of a multi-billion dollar company, he understands the need to get the deal done and will work closely with you so that you can close the deal while mitigating your risk.
To get help with business transactions in St. Petersburg and Tampa Bay, contact the Law Office of John K. Carter today.