Roe Taroff Taitz and Portman Offers Top Tips to Avoid Contract Conundrums

BOHEMIA, NY, October 02, 2012 (Press-News.org) Long Island attorney Steven Taitz of the law firm Roe Taroff Taitz & Portman, LLP has seen his fair share of confusing contracts. He's also had to counsel numerous clients when to sign on the dotted line and when to run from poorly-worded clauses destined to cause catastrophe. To help business owners, executives and individuals better prepare before signing a contract, Taitz has identified his Top Tips to Avoid Contract Conundrums.

"As an attorney I have to understand my client's goals and expectations when entering into a contract with another party. What is good for the other party may not be good for my client, even with the best of intentions," cautions Taitz. "For example, I recently counseled a client who was looking to purchase a retail business operated from a leased storefront. The current business owner's lease contained obligations and liabilities usually associated with the landlord. Now my client comes along 15 years later and the liabilities are much more concerning because the building is that much older. I suspect that the current business owner has simply been renewing the same contract for years without considering the consequences. I advised my client that the contract needed to be updated to avoid being on the hook for those older liabilities."

Top Tips to Avoid Contract Conundrums
Taitz recommends that business owners, executives and individuals should become familiar with every clause in a contract they plan to sign. "Take it to your attorney and ask him or her to walk you through every point to remove guesswork," says Taitz. He makes four key recommendations to help people prepare before signing any contract:

1. Read the contract. This sounds basic, but it is surprising how many problems occur simply due to something that might have been missed. "Contracts may have misspellings, incorrect dates and locations, even clauses left over from a template someone used to prepare an earlier document," says Taitz.
2. Understand what the contract states. Reading doesn't always equal comprehension. "If you are unclear about a clause in a contract, make the other party or your attorney explain it further," urges Taitz.
3. Recognize how the contract terms impact you. Contracts exist for set periods and often place certain restrictions on the signers. It is important to recognize how these restrictions might impact a business or individual in the future. "You want to think about and understand the long-term ramifications of the contract provisions and the 'what if' scenarios that might occur," warns Taitz.
4. Understand what the contract does and does not state. People often think that a contract states one thing, when it actually states something completely different. "We often hear people talk about 'the spirit vs. the letter' of the law. In contract law, it's all about the letter - exactly what the contract states - that is important. But understanding what is not stated is extremely important as well," says Taitz.

"In the 'old days,' it was not uncommon for a client to bring a lease agreement, employment agreement, or some other type of contract or agreement, and ask me 'Is it o.k. to sign this?'" reminisces Taitz. "There are often more concerns and obligations incorporated into a contract today, requiring review and comparison to other contracts. Unfortunately, the day of the 'handshake agreement' is over."

Steven Taitz
Steven Taitz is a founding partner of Roe Taroff Taitz and Portman where he concentrates his practice in state and federal litigation, particularly in the areas of creditors' rights, commercial litigation and criminal court matters. He has worked extensively with and lectured for the Suffolk County Academy of Law where he remains active. He is also a member of the Suffolk County Bar Association and Commercial Law League of America. He served as an Assistant State Attorney in the Narcotics Unit and a Felony Division Chief under then State Attorney Janet Reno in Dade County, Florida. He is active in the community serving on the Board of Directors of the Brookhaven Memorial Hospital Center, the advisory board of the Brookhaven Youth Court, the Rotary Club of Patchogue and as a past trustee of the Bayport-Blue Point Public Library. Mr. Taitz holds a bachelors degree from John Hopkins University and a J.D. from the University of Miami, School of Law.

About Roe Taroff Taitz & Portman
Roe Taroff Taitz & Portman, LLP provides a wide variety of legal services to Long Island. Our attorneys have served the residents of Suffolk County for more than two decades. Comprised of attorneys, legal assistants and administrative staff, the firm provides support at various levels of legal expertise. Our resources are available to both businesses and individuals looking for experienced legal representation. The firm's primary areas of concentration include civil litigation, creditor's rights law, trust and estates issues, estate planning, admiralty claims, business counseling and real estate matters. For more information, please call 631-475-4400 or visit http://www.RTTPLaw.com.

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