A large number of contracts are negotiated and concluded in
everyday business without the involvement of lawyers. Standard
contracts are used, and collections of samples are freely
available. Such model contracts can be helpful depending on the
qualifications of their authors; however, caution is required
because the standard contract, which fits every business deal, does
not exist. Therefore, it is strongly recommended to ask a legal
professional for assistance when a contract is needed.
As the first prerequisite for a good contract, each party must
be aware of what it expects from the transaction, and this
expectation must be communicated openly and transparently to the
other contracting party. This sounds banal, but it is not. It means
that the parties have to discuss the expected course of the
business together and identify not only individual rights and
obligations but also potential performance problems.
