Understanding Where And When a Pre-Printed Form is Appropriate

Business owners often fail to carefully review the pre-printed sections of contracts to know what the contract actually says, warns Nancy Park in an article for Best Best & Krieger. The form may include terms that were not intended or conflict with the parties’ intent.

“Reading just the filled-in blanks for key monetary or timing terms may result in unintended consequences,” Park explains. “Also, the form user should beware that the party who drafted it may have included clauses favorable to that party. For instance, a broker-drafted form may include payment protections for that party, even though a buyer and seller are the intended actual signing parties to the contract.”

Read the article.