After multiple negotiation sessions the deal has been struck and all that is left is to draft a contract. Who should draft the contract, isn’t it easier and cheaper to let the other party’s lawyer draft the contract and just have your attorney review the draft. Answer: No.
The party who drafts a contract usually has an advantage in negotiations since they can frame the issues. Whenever I have to review another attorney’s agreement I spend most of my time figuring out what has been left out of the agreement. Its typically more cost effective for me to start with my own agreement that I already know very well. The review, process, moreover, usually results in a negotiation over the language in the contract. Many parties employ the strategy of making most contract provisions one sided with the expectation that the opposing party will just relent to the contract language as opposed to spending additional time negotiating it.
When you have a choice always readily agree to draft the contract instead of reviewing a contract drafting by the other side.
As always your trusted resource for practical legal advice.
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- Your Contract is Your Bond – guest post by Justin Daniels, Atlanta Real Estate Attorney
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- Do Your Due Diligence or Be Sorry – guest post by Justin Daniels, Atlanta Real Estate Attorney
