I had someone call me and say they drafted their own contract and wanted to know if there is something specific they should have put in the contract (meaning the contract was already
signed).
After I facepalmed. I had to explain that, without looking at the contract, I had no idea what he could have left out of the contract and that it was too late if the contract was
signed.
However, after he explained a few of the details of his agreement I could see a distinct possibility that he really hurt himself with the contract he wrote.
You see, he wrote that he was loaning a company a set amount of money and it would be repaid within a certain time-frame. That by itself is not so bad. However, the agreement also gave him use of
a cellphone, use of a company car and use of a company credit card.
Just off the top of my head I told him there were 4 problems with his contract.
1. No
description of the type of cellphone. They could give him an old Nokia phone from 2001 if they wanted.
2. No
description of the vehicle to be used. It could be a 1975 Ford Pinto.
3. What
is his limit on the credit card? What if it was $100?
4. Most
importantly, the contract did not list the amount of time he would have those items. The company could give him a cellphone, car and credit card and take it all back in a week.
Contract attorneys help their clients reduce the vagaries in a contract and make sure every aspect of the contract is enforceable.
It is always advisable to hire an attorney when drafting a contract so the other side cannot take advantage of loopholes.
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