Having a written agreement ensures that there is no doubt or disagreement as to what the agreement was. This significantly reduces the risk of disputes later on. And the chances of a dispute arising when an important agreement is not reduced to writing are numerous.
It is a very good idea to see a solicitor to draft your agreement. The advantages of doing so are numerous:
1) Solicitors are good at drafting documents in a clear, concise and legally effective manner
2) Solicitors might be able to advise you which parts of the agreement may be void or unenforceable, and how the agreement can be amended to avoid such an outcome
3) Solicitors are able to think of issues that you may not have considered eg: how can the agreement be terminated? Should a provision be made for a renegotiation after a set period of time? Should timeframes be included to ensure the parties comply with their obligations in a timely manner? How will a key term of the agreement be defined? What happens if the agreement is breached? And so on.
4) Solicitors can insert ‘standard’ clauses in the agreement which strengthen and improve it.
If your agreement is important to you, getting a solicitor to draft it is the best decision you can make. Sterling Law can assist you with this.
Contrary to what some believe, an oral agreement can be enforceable, as long as the elements of a contract have been met. However, there are major advantages in having an important agreement reduced to writing.
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