It is probably a mantra of most attorneys: get it in writing.
However, it turns out there are some stellar reasons to “get your agreement” in writing at the start of the relationship:
1. All parties to the agreement know what the terms are.
2. The process of reducing the agreement to writing spurs conversation about the terms and usually helps clarify what the parties are agreeing on and issues that might exist.
3. It is much easier to enforce something that is written down. Enormous legal obstacles exist when trying to enforce an oral agreement.
4. People who were not part of making the agreement can know what the agreement is. This tremendously improves efficiency.
5. The written agreement provides a pathway to resolving disputes, without having to go to court.
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