What is the purpose of contracts?

• 2024-11-23
• 52

Contracts are not just a legal document enforceable by law. Contracts are for:

 

• Successful business outcome for contracting parties

 

• Relationship-building

 

• Effective information (user-friendly for clients, contracting parties, & non-legal audience)

 

• Making sure that essential terms are given cautious attention (Limitation of Liability, Indemnities, Governing Law, Termination, or  Insurance)

 

• Legal risk management

 

• Compliance

 

• Sales and Marketing leverage