Selecting the Perfect Contract Attorney in Dallas
Contract Law Overview in Dallas
Contract law in Dallas is derivative of regulations and rules from England’s common laws, ruling from the 18th and 19th centuries. Nevertheless, the regulation of contracts is complex and convoluted, even in a simple contract situation. Laws governing business contracts and personal contracts differ significantly.
The contract definition in business contracts is a legally enforceable agreement between two or more persons that involves a promise to do something in return for a valuable benefit known as consideration. An essential element of a contract is the Need for Offer and Acceptance, an Agreement, a Legal Objective, Competency and Capacity, Mutuality of Obligation, Mutuality of Agreement. It means both parties must agree to the terms without duress, without mental or capacity coercion. Certain persons are incompetent to contract, such as minor children, those suffering from schizophrenia and Alzheimer’s disease. In all cases the contract must have a Legal Objective such as a Sale, Lease, Rental, Employment, Loan, Marriage contracts, Insurance policies, Prenuptial contracts, Partnership, Licensing and many others. In a business contract, the terms Stay the same however the considerations are different for Contract Law in Dallas. In the United States Uniform Commercial Code regulates standard business contracts allowing for Consistency , Uniformity and Fairness in the business contracts industry.
Contract law differs for civil contracts or personal contracts. A civil contract is a contract between persons which does not include land and land transfers, agency contracts, contracts for sale of goods, contracts for the selling of insurance. In personal contracts, the contract is a legal agreement requiring a performance of an act to obtain consideration; a loan, a pledge and collateral contract, a Sales contract in real property. In real property contracts, offer and acceptance are complete when the Seller has signed and delivered the Deed. In these types of personal contracts, the consideration always has a Value associated with Money.
Oral contracts are binding business contracts in Dallas where the contract involved has been benefited or consummated. Written contracts also known as formal contracts are those usual typewritten contracts or computerized contracts which are legally enforceable with the exception of the Statute of Frauds. The purpose of the statute of fraud is to prevent the enforcement of fraudulent or perjured promises. This means without the written contract, the legal terms of the contract can not be substantiated.
Benefits of Hiring a Contract Attorney in Dallas
A contract lawyer in Dallas can give your company peace of mind when entering into a contract. In a litigious society, the possibility of a contract dispute arising cannot be ignored. Sorting the legal issues from the facts (and there are always facts) is where a Dallas contract attorney comes in. The contract attorney is a trained legal mind that quickly assesses the legality of the terms and conditions of the contract. The trained legal mind also tends to be somewhat dispassionate. This is a very good trait when drafting a contract because the attorney does not have a vested interest in any part of the transaction, but will focus on the legality of the terms. Again, this is where the "trained legal mind" of the contract attorney really helps, as the attorney gently points out the "supposedly obvious" issues. Such issues may include illegality, ambiguity and unenforceability, to name a few. The contract attorney in Dallas is working for your company. For instance, when drafting a contract, you want the language to clearly reflect the agreement between strongly and clearly. A contract attorney understands the importance of this legally binding document, and will work as hard as necessary to protect your company’s interests.
Dallas Contract Services Offered
Like their counterparts from around the country, contract attorneys in Dallas are brought in to provide firms with the extra resources needed to complete a project and adhere to a tight deadline. Contract legal services in Dallas are offered by everyone from sole practitioners who travel to your office to assist you with a particular need on an as-needed basis or offer their services for a period of time to firms that have built up a team of experienced, knowledgeable contract attorneys.
Small, large and even national firms have long relied on outsourcing legal services to handle projects of any size in order to provide them with the extra hands they need for larger projects. The type of outsourcing services that firms offering contract legal services in Dallas offer to their clients include drafting contracts for both the merger-acquisition sector and the general business sector. Many firms also offer contract review and contract negotiating services, as these are often more preferable to clients than hiring additional full-time staff which can get costly in terms of salary and benefits. Dallas contract attorneys also manage contract litigation and corporate litigation.
How to Select a Competent Contract Attorney in Dallas
Finding the right contract attorney in Dallas can be a complex process if you do not know what you are looking for. The first step to finding the right contract attorney is to know what you need. For example, if you are a small business owner in need of help with reviewing a lease agreement, your needs will be different than that of a litigation attorney in a divorce case. Your situation will ultimately dictate which kind of contract attorney you will need and that will lead us into the criteria for selecting a qualified contract attorney.
Look for an attorney who specializes in contract law, but also one who understands the specifics of the contract and rules and regulations of your particular field or business. Your attorney should have prior experience with similar matters to yours to ensure they know how to handle your case with minimal time and effort lost by your team in having to help the attorney understand particulars or intricacies of something you are familiar with. When hiring a contract attorney, be sure to inquire about their past cases and successes, or ask for referrals.
The final step in finding a contract attorney in Dallas is to examine reviews and testimonials and to ultimately schedule a consultation with different attorneys to determine who you feel most comfortable with. Some attorneys are an excellent fit because they have the knowledge and experience to do the job, while others may connect with you more personally and professionally. Sometimes, hiring a contract attorney who has a more personable demeanor may work better for you even if they do not have the most experience. It is important to find the right fit and someone that makes you feel comfortable and at ease.
Common Pitfalls to Avoid When Contracting
Hiring and firing, raising and lowering equity stakes, licensing and franchising – business is built on contracts. But a poorly written contract can come back to haunt you. Much worse, a poorly worded contract may not protect your interests if things go wrong with one of your employees or business partners.
To avoid these and other contracting pitfalls, work with an experienced contract attorney from the beginning. Too many people wait until a problem arises before they seek legal help. Unfortunately, that’s like going to the doctor when you’re half-way through a heart attack, only to find out that it’s too late. It’s better—and less expensive—to consult with a contract attorney before problems arise.
Although every business has what it considers to be the right people and processes, there are common mistakes that many people make when working with contracts . Hire an experienced contract attorney and these mistakes will be avoided. Some common contract mistakes include:
As a Dallas contract attorney, I’ve worked with lots of companies – small startups and large corporations – and I’ve seen all kinds of contracts. I’ve also seen businesses that relied on agreements that weren’t in accordance with the law. Fortunately, hiring a contract attorney means knowing your contract will be drafted according to the law. In other words, you’re avoiding legal woes. The sooner you involve a lawyer, the less expensive hiring a contract attorney will be in the long run.
The contract attorney in Dallas you hire is tasked with ensuring that your contracts clearly reflect your needs.
How Much Does a Contract Attorney in Dallas Cost?
Like any legal professional, contract attorneys in Dallas charge a fee for their services. As with many other occupations, the cost of contracting fees can vary depending on a number of factors. Three of the most influential factors are as follows:
- Level of Experience
- Specialization
- Complexity of the Job
Contract attorneys in Dallas generally charge an hourly rate for their assistance. In most cases, you will not be charged for the time required to do research or travel. Lawyers may also be willing to work under a retainer agreement. In this arrangement, the attorney asks for a retainer fee upfront and deducts funds from that balance as work is completed. Attorneys are generally confident in the number of hours they will need to commit to a case, so contingency agreements are quite rare. As such, you won’t get a bill for a breach of contract lawsuit if you win the case.
In addition to collecting an hourly rate for work, some Dallas contract attorneys also charge what is known as administrative costs. This is a standard charge that may cover things like faxing, copying and travel time in the air or in a car. Administrative charges are sometimes called miscellaneous charges by contract attorneys in Dallas.
You may also spend more money to hire a contract attorney in Dallas if your case is particularly complicated or it goes on for an extended period of time. Attorneys in Dallas are usually happy to break down the various measures that could be taken to reduce the total amount of hours spent on a case and trim costs. As an example, settlement may be much cheaper than litigation. Meeting with a contract attorney in Dallas can allow you to determine the most financially sensible path forward.
Dallas Contract Attorney Reviews and Testimonials
The testimonials of clients who have worked with contract attorneys in the Dallas area provide compelling evidence of the depth of satisfaction their legal needs can be met in an effective and efficient manner. One such client, a start up company that had been working with a solo practitioner in downtown Dallas, was on the verge of financial collapse with the previous attorney literally "stealing" from its trust account.
In a panic, the client turned to its trusted CPA for immediate assistance. The CPA highly recommended the firm of Spnd & Albright, and the client had had a great experience. They met with Rodney Spnd to negotiate a flat fee to handle the position taken by the State Bar of Texas inquiring about missing retainers, which had consumed three years of time and more than $130,000 in fees with no end in sight.
The firm of Spnd & Albright worked out a deferred fee arrangement with the State Bar of Texas’s general counsel, who indicated that they were not concerned with elaborate forensic accounting, but simply wanted the money back. When asked for a retainer on the matter , Rodney explained that was not necessary under Texas law. This client paid the remaining $50,000 due on their original retainer (which they did not have available due to the aforementioned liquidity problems) and because they had confidence in the work of Rodney Spnd and his team of attorneys that they would be able to resolve the matter in a short period of time and at a relatively modest cost.
Within ten days, the State Bar of Texas was satisfied, and the entire matter was resolved. The firm of Spnd & Albright essentially released the trust account to its rightful owner and cleared its name within one month after its initial engagement.
With the money returned, the company was able to pay off its debts and hire back most of the staff that had ben dismissed during the crisis. The growth potential of the company was now back in play, and the company was able to grow into a seven figure business quickly thereafter. The business acquired more than 1,000 customers and has since hired a staff of 15 employees, many of whom are members of the State Bar of Texas.