When you’re making a deal or hiring a contractor, signing a contract may seem unnecessary. After all, if you genuinely like the person you’re speaking to or don’t need a lot of work done, what could be the harm in making a “handshake agreement?” However, going without a written and signed contract can expose both parties to legal hassles and headaches, some of which could cost you a lot of money.

Why Contracts Are Necessary

A well-written contract describes the rights and responsibilities of both parties, including how much should be paid, the time frame in which those duties should be carried out, and penalties for not fulfilling your end of the agreement. If the deal does fall through, the contract will also describe the legal remedies available to you and stand up in court if you have to sue for damages. Without written evidence, any dispute turns into a case of your word against theirs.

When You Need a Contract

Most major purchases require a written contract, especially real estate, vehicles, or other particularly valuable items. You should also get a contract anytime you’re hiring a contractor to work on your property, even if they’re just doing minor repairs. Otherwise, you might be held responsible for any damage they cause, which could be worth more than the price of the project. By the same token, if you’re doing work for someone else, you’ll want a contract that specifically describes your responsibilities, when you should be paid, and how much. Every business deal can benefit from the protection a written contract provides.

As one of Griswold, CT’s most experienced legal firms, Stuart R. Norman Jr. has been providing contract advice and high-quality legal services to individuals and businesses throughout the area for more than 40 years. Visit their website to see an overview of their background and areas of expertise, or call (860) 376-0069 today to discuss a contract with a respected legal professional.