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Episode 25: Ensuring Your Business Contracts are Valid
I’m chatting about service industry contracts and what you really need to know about your contracts to ensure you're saving yourself tons of headache in the future. This episode goes over the main contract principles you need to know that make up a valid contract such as offer, acceptance, consideration, and why you need to "get it in writing". Don't sit around wondering anymore whether your client contract will actually hold up in court.
Quotes from the episode:
(01:23) "We're talking about some big general legal concepts that have to do with your service industry agreement. And this is the agreement that you use with your clients."
(01:49) "...the big concepts that need to be included in order for those client contracts to be valid in a court of law.
(02:08) "..my clients that come to me to have a custom contract review, they often are missing so many really, really important things in their contracts. So that being said, I'm sure you're missing a few things in your contract.."
(04:55) "..the biggest thing that I see is people often forget to have like a retainer or deposit right away. With service companies, you are providing a service to them and I truly dislike having the client pay at the end of when those services are performed because honestly that's when I see it as sticky situations come up.."