Best Lawyers | Best Law Firms | U.S.News & World Report | 2022
Richard J. Lambert was named by Best Lawyers® as a 2021 Corporate Law “Lawyer of the Year.”

Best Lawyers® is the oldest and most respected peer-review publication in the legal profession. Only one lawyer in each practice area in a given community is honored as “Lawyer of the Year.”

Dunn Lambert, LLC | Attorneys At Law

Comprehensive Legal Services For Businesses

In New Jersey And New York call
201-957-0874

Dunn Lambert, LLC | Attorneys At Law

Comprehensive Legal Services For Businesses

In New Jersey And New York call
201-957-0874

Dunn Lambert, LLC | Attorneys At Law

Call

Email

Business Law Professionals

What should you include in a business contract?

On Behalf of | Oct 21, 2022 | Business & Commercial Law |

As a small business owner, your focus is likely on improving efficiency, enhancing your profits and maintaining operational stability. Developing strong business contracts can help you reach these goals.

According to the Small Business Administration, there are 32.5 million small businesses in the U.S., and many of these operations also rely on solid contracts to further their objectives. We recommend that you have your business contracts prepared by an experienced attorney, but should you need to prepare an agreement in an emergency, include the following information.

Simple terms

Your business contracts should not be overly complicated or difficult to interpret. Include the basic tenets of the agreement and use clear, direct sentences to describe the terms of the contract. You should also make sure that you put down all of these terms in writing as verbal agreements are difficult to enforce in a court of law.

Identification of each party

You should accurately define every party involved with the new contract. For example, when you draft an employment contract with a new worker, include who the employee is and name your specific business.

How to resolve disputes

It is almost inevitable that an issue with one of your suppliers, employees or clients will arise at some point in relation to the terms of your contract. Include information about how to resolve the dispute in your contract for when a problem does occur.

Additionally, you should include stipulations for how any party involved can terminate the contract in the future. For example, if a client does not make payments on time, you should reserve the right to terminate the contract in this legal document.