Are you about to purchase a house, car or maybe enter into a rental agreement? Maybe sign a pre-nup? Or agree to loan agreement? Firstly before you go grabbing that pen and signing away to something that you did not intend to enter into, think about the terms in your contract.
Too many clients are getting stung by the small print or contract terms in written contracts.
So you ask yourself – how do I know what terms to look out for?
Firstly do you understand everything that has been disclosed to you? Have you asked all the questions you feel you should ask? A lot of clients are either too scared to ask the questions they want because they feel as though they should know, but contracts are a hard piece of material to understand. Especially when there are a ton of terms and conditions and fine print you would need a magnifying glass for.
When signing a contract it is advised that legal advice is sought, and then you can make an educated decision on you agree to enter into it. In some cases we have found that contracts have been half completed when signed and filled in by the other party in respect to the consideration and therefore the client being bound to an amount that they didn’t sign up for. Are you aware of the cooling off period? Is there even a cooling off period?
Are you in a situation where you are about to sign a pre-nup or binding financial agreement with your soon to be husband and wife? Do you believe that it is in your best interests to sign and they could never do wrong by you, this still is a situation where independent legal advice should be sought and the documents isn’t actually legally binding until you have done so.
Here is a quick check list that assists when reviewing any contract.
- Check who the contract is between and the names of the parties;
- Check the consideration, payment arrangements or loan terms;
- Check that all pages of the contract are included at the time of signing, they should be page numbered;
- If there are any annexures noted ensure they are attached;
- Is the contract legible?
Before you sign any contract, contact 1800 621 071 or email firstname.lastname@example.org to arrange an appointment with one of our Lawyers.