From marriages to car purchases, people are always looking for the security of legal contracts. When parties back out of arrangements that have not yet been made official, there is little recourse except to learn a lesson and move on. When it comes to massive projects like building a skyscraper, contracts are usually signed before the work is even planned, adding a layer of protection for builders.
Contracts keep trade open and employment free by reducing the risks of doing business with or working for another person or company. All honest businesspeople enjoy the security of contracts and the ability to pursue justice if one is breached.
Employees of all sorts of enterprises in California find themselves agreeing to wide-ranging employment agreements, from injury waivers to nondisclosure orders. Most of these documents are designed to give employers the upper hand in the case of a claim, but many rights cannot be legally signed away even if that's what an employee wants.
Contracts are one of our best ways of cooperating across industries and jurisdictions. Most businesses and individuals like the system of contracts that keeps costs and risks down for large ventures. Fortunately, the system also comes with ways to resolve disputes.
California may be more scenic without a huge construction industry, but the homes and infrastructure for millions of people depend on the workers and equipment that build and maintain them. Construction projects are often complicated and involve different specialties, so owners and developers rely on contracts to get people to work together.
When you are having a house built, there are few things as frustrating as seeing delays throw off the projected timetable. This can box you into a corner.
When you hire a construction company, they give you a quote and you sign the contract based on their projections. They will tell you what they think the project will cost and how long they expect it to take. You review the details before you sign.
What happens when your construction project doesn't go according to contract? You know that you're losing money every day that the project is delayed.
When a company does not manage its contracts appropriately, it can experience a host of different problems. These problems can include the loss of clients and the loss of sales. Contract management is not a difficult concept. You just need to ensure that the right person is in charge of managing the contracts your company signs so the proper oversight is provided.
If you have started a business in Orange County or a preparing to do so, it's a good idea to know the ins and outs of contracts. You don't need to be an expert in contracts but knowing the basics will help you understand how they work and how they can benefit your company.