5.14.2007

CONTRACT IS MAN'S BEST FRIEND

A good friend of mine does side jobs for different small business. He is a computer network engineer and sets up businesses IT systems. He had a client who was an extremely good client that he had done work for a long time. I told him months ago that I would draft a contract for him to use with this client. My friend told me not to worry because they always paid their bill.

Fast-forward to last Friday, and this great client's partners had a following out and intend to dissolve the partnership and now owe my good friend $5,000.00, but he has no written agreement. This $5,000.00 owed to my friend is under what he believes the agreement was and that may not be the case.

He may still get paid but trying to enforce this type of agreement in court may cost more than the value of the contract. Put your business deals in writing and have both sides sign the agreement. I recommend this even if you have past dealings because its better to be safe than sorry.

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