Contracts
5. Contract Checklist
Authors: Staff Legal Eagle
Firm / Chambers:
Last updated: 19 Jul 2015
- There are certain questions that you should ask yourself when a contract is being drafted, negotiated or reviewed:
- Have all the requirements for a valid and legally enforceable contract been met?
- Does this contract correctly set out your full understanding of the transaction in a clear way?
- What are your obligations under this contract and can you meet them?
- Does the contract set out how to resolve a dispute that may arise? Going to court is not the only way to resolve a dispute. There are alternatives such as mediation or arbitration that may be less costly and quicker.
- Does the contract specify a way to amend or terminate the contract if circumstances change?
- Are you comfortable with any changes proposed by the other party or their lawyer?
- Do you feel like you need to get legal advice before signing this contract?
- Have you read the final draft of the contract from start to finish before signing?
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