Most businesses need contracts at some point. Contracts are a vital tool for formalizing agreements between any two parties. These could be customers, employees, vendors, or partners. In some cases, they’ll be your shareholders, or individuals who are interested in partnering with your business.
When contracts aren’t structured correctly even simple matters can create issues later. Our team of commercial contract lawyers can help with every kind of contract, from sales and service agreements to complex partnership or shareholder agreements. We can also help you draft the standard contracts you will use during your day-to-day business dealings.
Why are contracts written in “legalese?”
Even agreements that seem simple on their surface rarely are. Entire court cases revolve around whether or not certain contract clauses apply. Writing a contract that is in overly simple, plain language can backfire because that language isn’t sufficient to the task of protecting either contract holder.
While it may be frustrating to try to read your way through a properly written contract, it’s important to understand that this language eliminates ambiguity. Fortunately, your contract lawyer can explain, in detail, what every clause in your contract means, allowing you to move forward with confidence.
Proper contracts can protect you from price hikes, a contractee’s failure to deliver goods and services, damages, and more.
Can you renegotiate a contract?
Circumstances change, or deals reveal themselves to be very bad ones. Over time it’s often wiser to pursue a contract negotiation than it is either to breach the contract or to press litigation over a breach.
Contract renegotiations are often accomplished with the help of riders or addendums which alter and update a contract to its new terms.
Your lawyer can handle renegotiation efforts when the time comes. Ideally we’ll both create favorable terms for all parties while preserving the relationship between those parties.
What happens when someone breaks a contract?
When the initial breach occurs the breaching party may receive a “notice to cure,” that is, a notice that they have violated the terms of the contract. They will often be given a certain amount of time to remedy the situation.
If they can’t or won’t, there are legal remedies that may be used to enforce the terms of the contract, or to force the other party to pay damages. Sometimes these matters will be settled out of court. Sometimes they will have to go all the way to trial.
Why Merchant Law?
The team at Merchant Law has decades of experience helping business owners negotiate and draft contracts. We work hard to make sure you get the best possible terms for your agreements.
When things go wrong, you’ll get the benefit of working with some of Saskatchewan’s toughest litigators. We’re known for our business acumen both inside and outside the courtroom, and we’re known for taking care of all of our client’s best interests.
Find out if we’re the right lawyers for you by calling (306) 653-7777 to set an appointment today.