6 Key Provisions You Should Look for in Your Business Contracts Before Signing
Getting asked to review and sign a contract is just as exciting as getting asked to read the index of your favorite encyclopedia. If you are like most of us, then you probably have no idea where to begin reading and probably end up skimming rather than reading. The consumer lawyers at Doucet & Associates Co LPA have experience helping consumers cancel contracts when they are trapped in a renewing contract, are victims of hidden fees, or did not receive what they were promised from the business. Our lawyers have a unique advantage to help consumers be more aware of what they should be looking for in a contract before signing because we also help draft contracts for small business owners.So, what should you be looking for in your contract?
- The purpose of the contract should be clearly stated. If you do not feel comfortable with the purpose of the contract or any of the terms, do not be afraid to negotiate the terms of the contract with the business and discuss how the contract is written. Make sure the contract is written in terms that you understand.
- Every party involved in the contract should be identified. Also, each party’s duties and obligations should be defined. Do you know what the business will do for you and how you will benefit? What do you have to do to receive your benefits from the business?
- Cancellation rights and information on how to cancel must be included in the contract. Also, make sure you understand any liabilities you may have after cancelling the contract. Many contracts have a 3 day right to cancel under Ohio law. Click here to read our article about your 3 day right to cancel in Ohio.
- Payment information regarding the amount you will pay, payment dates and deadlines, late payments, interest, and renewal options must be included. Is there automatic renewal and if so when does it occur? Also, there should be no hidden fees, all the fees should be listed in the contract. If you become a victim to hidden fees, then you have the right to cancel the contract in Ohio and are entitled to a full refund and all attorney fees if you need legal representation. The lawyers here at Doucet & Associates have experience helping consumers escape contracts when they are victims of hidden fees. Click here to read more about hidden fees and your rights.
- Look for warranty rights. If there are warranty rights make sure you understand the length of the warranty and everything that is covered by the warranty. Warranties are especially important when you are buying a new car. If you are buying a new used car, the car may be sold “as is”. To learn more about what it means to buy a car “as is” please read our article What to look for when you are buying a new used car?
- Make sure you know your rights to legally resolve issues if you run into problems and find errors in your contract after signing. Are you allowed to take the other party to court or must everything be settled in arbitration or mediation? Many telecommunication contracts such as cell phones, internet, and cable television require their consumers to settle disputes in arbitration or mediation.
The consumer lawyers at Doucet & Associates Co LPA help defend consumers who have entered into contracts with hidden fees and confusing cancellation rights. If you need help cancelling a contract or did not receive what you were promised in your contract, please contact us at (614)944-5219 or send us a message online.