First of all, this is not legal advice, it is practical advice. If you want me to review a specific contract, let me know! Before you do, however, take these thoughts into consideration. Lawyers and dispute resolution get expensive very quickly. Knowing your options can save time and money.
Why are you unhappy with the contract? What would it take for you to be happy with the contract again? It seemed like a good deal at the time, what has changed?
Read it over. How much will it cost you to get out of the contract according to its terms? If there is no ability to terminate the contract for a fee or after giving notice, how much is the contract worth if you were to pay it up front? (i.e., if you are stuck in a rental agreement, how many more months do you owe rent? # months x $ rent = $ amount). Can you afford that?
How much can you afford to spend to get out of the contract?
Can someone else step in your shoes? Would that work for you and the person you are contracted with? How long do you think it will take to find that person?
Would the person you're contracted with be willing to work with you to amend the contract?
If you break the contract will you sever a valuable relationship?
What will happen to the relationship when you say "I'll have my lawyer call you"?
Before stepping into a new contractual relationship make sure you can afford to meet the terms of both contracts while you are trying to move on. Life gets expensive fast when you are tied to two agreements.
Good luck! And again, if you would like help reading and understanding a contract you are looking to sign or that you have already signed, feel free to give me a call or an email.
Wednesday, May 6, 2009
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