![]() ![]() One of the major problems in the case of standard contracts is price fixing. Disadvantages of Using Standard Contracts: Price Fixing If you'd like to reserve the suing right, you should either remove or modify this section of boilerplate.Īlways make it a point to read the whole of the boilerplate thoroughly to look out for the sections you don't agree with. ![]() Often, the issue is not with what the boilerplate contains it's rather with what it leaves out.įor instance, if the person offering you the contract has removed the part that requires the losing party to pay the attorney fees of the winning party, you may be at a disadvantage despite winning a case.Īnother example is the condition to resolve a dispute between the parties through arbitration. Most of the people do not go through this section, considering it just to be a legal formality. It refers to the standardized language used in most of the contracts. You will usually find the boilerplate towards the end of the contract. Know the disadvantages of standard contracts so that you can look out for them when entering into one. You may be a small business owner, but your legal rights are as important as those of large corporations, who scrutinize every part of the contract before signing. You should never sign a standard contract in the course of your business without going through it. This benefits the whole industry.ĭisadvantages of Using Standard Contracts: Boilerplate
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