We saw a meme online (pictured on the right), where Ms. Berry entered a contest to win what she thought was going to be a Toyota car. Turns out that she actually won a toy Yoda. To understand more of how she ended up in this situation, watch our Legal Bit on the importance of written contracts.
This segment ties into our section on contracts and why people should have their agreements in writing before putting effort towards a common goal. Without a contract, Ms. Berry wound up winning an unexpected prize–perhaps worth less than the value of her work. Unfortunately, there is not much she can do.
We also uploaded another segment on contract basics and “what are materials terms?” You can watch that video here. Material terms are very important to identify in a written agreement between two parties. Without having a written contract it is very difficult to get away from the “he said, she said” argument.
HG.org is another great source for finding legal information and they have an article about The True Importance of Written Contracts in Business & Transactions.
It is one thing when you get hundreds of pages to “read” in an electronic agreement to update your phone policy with your carrier. It is completely different when you are entering into a contract with someone for something much more specific. Click here to watch another video where Anton will tell you how much he really wants you to read your contracts.
Remember that if you do not understand the contract, don’t put your signature on it! Read it, make sure you understand it, if you don’t understand it then find someone to help you, and only then if you agree should you sign your name on a binding document.
Kaminsky Law is here to help you review your contract before signing if you need an extra set of eyes to make sure you’re not signing your house away. Don’t hesitate to call us at 215-876-0800 or fill out a contact form.
Kaminsky Law is a small business-oriented litigation Law firm licensed in Pennsylvania and New Jersey with cost-effective approach to lawsuits, settlements, and dispute resolution.