Louisiana business owners understand the value and importance of good business contracts. When written well, these agreements can provide legal protection in a variety of business transactions. Poorly written, nonspecific or confusing contracts can expose a business to the possibility of commercial litigation, which is one of the risks of using pre-made contracts.
There is a certain appeal to using generic contracts. For example, it can be quite simple to just print a pre-amde contract, fill in the blanks and have both parties sign. In certain situations, such as in simple and straightforward transactions or repeat transactions, this might work. In reality, it could be more beneficial to draft individual contracts so that they suit the needs of the individual business or the specific type of transaction.
Generic contracts may not include the right details, or they may include details that do not actually pertain to the needs of the business. Provisions that are specific to the individual transaction may not be necessary in every situation, but they are especially useful in complex or new business transactions. Whether a contract is pre-drafted or custom-made, a business owner will find it beneficial to look carefully at the terms before signing.
Commercial litigation is expensive and complicated. In an effort to avoid this possibility, business contracts should be thorough and suited to the needs of the specific situation. A Louisiana business owner may want to consider speaking with an experienced legal advocate before signing any legal agreement that could affect his or her operations, finances or legal security.