Contract Roulette: The Top Five Agreements That Get Businesspeople into Trouble
You can do a lot of damage with a signature, warns Jack Garson of Garson Law LLC in Bethesda, Maryland. You can go broke.
In an article on the website of Forbes, he discusses five types of contracts that have caused the most disasters.
First, he warns of the dangers of assuming that leases are standard, so there’s no reason to read every clause.
On the subject of loan agreements, Garson’s advice is to negotiate, consult advisors, and bargain. Most of all, he adds, get the right to prepay the loan.
He also covers construction contracts, partnership agreements, and personal guarantees.
