Saturday, October 2, 2010

Doing Business Without a Well Drawn Contract

by David McCarthy

Many are the stories of successful businesses that began with a contract drawn on a cocktail napkin. Contracts don't much matter when everything is going well.

Contracts matter when things go wrong.

One of our clients is now in litigation over a bare bones contract made with a rascal and without the benefit of counsel. The decision to save on expenses on the front end by skipping the lawyers and banging out a crude one-page agreement with the other party has proven to be a false economy.