Richard E. Smalley, Esq. explains the benefits of having a written agreement
In this modern age, when everything from a single Email to voluminous legal documents can be easily stored in your computer, is it really important to have these documents in hard copy?
By: The Smalley Law Firm
In this technological-
A "statute of limitations"
A piece of paper may have lost its importance in today's digital world but the significance of a written contract continues. Written contracts provide more assurance to both committed parties. Verbal contracts are harder to prove. With verbal contracts, it is likely that a party may agree on something, but later on, back-pedal immediately. This can put you in a lot of financial or legal crisis and damage your reputation as well. With written contracts, there is no scope of denying or backing away; even if a certain party does so, you can always provide evidence and prove them wrong. This will save you from a lot of hassle with the committed party and authorities.
The worst part about verbal contracts is that people often forget about details – the most important part of a contract. They may remember them for a while but as time goes on, it is likely for them to become hazy on minor details.
Richard E. Smalley, III is an attorney in Norman, Oklahoma.
The Smalley Law Firm
Richard E. Smalley, Norman, Oklahoma