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Why are the Provisions in a Contract Important?

Whether the contract is for an entity such as a partnership or an operating agreement, bylaws or declaration of restrictions, lease or rental agreement, for services and goods, or for an estate plan, the contract is the document used to manageyour relationships, and prevent legal disputes.

When a contract is first entered into, no one believes there will be conflicts. The purpose of the document is to provide a method for resolving conflicts. If the conflict escalates into litigation, the contract terms and provisions will control the contract dispute.

Complete terms and conditions, the provisions in a contract, are critical to maintaining the relationship among the people to the contract and ultimately to the resolution of any dispute among the parties to the contract whether resolved under the provisions of the contract or in court.

From drafting your contract to dispute respolution or litigation, it is important to have a well drafted contract. The request for a “simple’ contract is generally a request for a problem down the road with your contract relationships.