What’s a Contract Lawyer?
A contract lawyer is a distinctive type of attorney who routinely crafts, assesses, and revises agreements that affect the lives of their clients. These documents could be as simple as a two-page non-disclosure agreement or as complex as a multi-million dollar licensing deal that could take many forms to complete. In fact, most contracts can be broken down into different stages, all of which will require the services of a qualified contract attorney.
The obvious task that falls within the purview of a contract attorney is drafting contracts that are clear and legally valid, both of which minimize the risk of a breach of that contract and afterwards of resulting litigation. However, even the most basic agreement can be subject to misinterpretation. When this happens , the question of the intent of the parties to that agreement comes into play. As a result, the value of having a contract as unambiguous as possible cannot be overstated.
Once an agreement is drafted, and there are many firms that can help with the drafting of contracts, it is important to review that document minutely. Details, such as any exemptions or exceptions, need to be easy to find and recover once the document is executed and the matter is forgotten. To confirm that there are no vagaries that could later become causes of contention, it may be wise to ask a different, qualified contract attorney to review the agreement after it has been drafted, over and above the first attorney who drafted the document.
Why is a Contract Lawyer Necessary in NYC?
There are several reasons why hiring a contract lawyer is essential, particularly in a city like New York. First and foremost, New York is a jurisdiction in which local laws are complex and varied. There can be a wide variety of statutes or regulations at play in any given contract situation. Second, many industries have unique and complex contracts that need to be drafted or negotiated in a particularly skilled manner. Making a mistake in the handling of these kinds of contracts can be very costly. Additionally, as with any legal issue, having the assistance of a skilled New York City contract lawyer will save you time, ensuring that you can focus on your business or your personal needs.
Contract lawyers in New York are familiar with the numerous state and local laws that govern contracts in this area. New York law is very particular about the content and manner of the execution of many different types of contracts, including for construction, the sale of goods, non-disclosure agreements, employment agreements and more. Even issues such as document storage and preservation can vary from one industry to the next, so having a lawyer who is familiar with not only general law, but also the law as it pertains to your specific industry, can be a valuable resource.
Another important thing to keep in mind when hiring a lawyer, particularly for businesses and those who may not be directly involved in managing their own interests, is that finding a lawyer who you like and respect can make all the difference in the world. As a business owner, these are the kinds of people that you want to have in your corner, standing up for your interests. Even small disagreements with a contractor can lead to big problems, so being able to work with a contract lawyer who helps you resolve your disputes amicably is imperative.
What to Look For in a NYC Contract Lawyer
When in search of the best contract lawyer in NYC, there are several key qualities and qualifications to keep in mind. A good contract lawyer should possess a blend of experience, expertise, and positive client feedback. Contract lawyers are responsible for drafting and reviewing legally binding documents, so it is important that they have the skills needed to protect you legally.
The best contract lawyers often possess an expansive portfolio. This should include companies or individuals they have represented in the past, and the various industries in which they specialize. If you are in need of a contract lawyer to assist with drawing up a contract for your business, consider someone who has worked for the same or similar fields to your own.
Though experience is important, so is specialization. Some contract lawyers offer services across the board, while others focus on a handful of related fields. If you are in need of a contract lawyer to help you with real estate agreements, for instance, you may want to seek out someone who specializes in that area, rather than a generalist who dabble in real estate law.
Finally, client testimonials can be a good way to gauge the quality of a lawyer’s services. Find out what former clients have to say about their experiences to see if they recommend the lawyer in question. You can also ask about their contract drafting techniques, availability, and communication style.
A Brief Overview of NYC Contract Law
NYC contract law is regulated by both the federal and New York State laws. Contracts can be both written and oral. A marriage license, for example, is an oral contract between a couple with the mutual legal intention to become married.
New York law requires that a contract include five central elements:
- Offer and Acceptance: A proposal from one party must be accepted by another.
- Consideration: This is often financial, however, consideration can take the form of going above and beyond one’s duty to do a good job on a project at work or keeping a promise to deliver products on a specific date .
- Legality: Is the contract legal? For example, an individual cannot enter into a contract to sell drugs.
- Capacity: This is the legal ability to sign a contract. One example of lacking capacity would be that of a minor. Entering into a contract at the age of 17 years makes that contract void. Contracts with the government require special consideration.
- Enforceability: The contract must be written in a way that enforces the law. If a contract is illegal or frivolous it cannot stand up in court.
What Does It Cost to Hire a Contract Lawyer in NYC?
Although costs can vary depending on the associate’s experience level and the complexity of the matter, you can typically expect to pay anywhere from $200 to $500 per hour for the typical contract attorney in New York City. Some options for contract attorneys also include opportunities to access flat fees for limited scope or discrete projects, as well as retainer arrangements that may allow you to pay as you go, up to a certain limit.
As is the case for most legal services, it’s important to get an estimate before agreeing to the work being done so you know the potential cost upfront.
Tips for Getting the Most Out of Your Contract Lawyer
The contract lawyer you hire will be more productive if you remember to ensure that everything is in order before they arrive at your office.
If you are using appropriate management techniques you will already have much of the documentation in good order. Importantly answer questions they send you in advance, so they will have the necessary information on hand to be more productive when they arrive.
Your contract lawyer will save you money on legal bills if you can get them set up at the beginning of a project because you have given them all the essential information they need and have them working on the file straight away. It is the difference between having 1.5 lawyers charged on your credit card or only 1.
A New York freelance attorney will bill you for SEO documents, letters, building notes, contracts and summaries. You can save yourself a large sum of money by sending these documents to the contract attorney in advance with a brief summary of what it is and why you need it done. If a contract attorney turns up at your firm for 10 minutes to ask what the requirements are , it is going to cost you more than if you had emailed them the information and got them to start straight away. Ten minutes without having to give instructions and see what is what with a contract can save you a lot on the total bill.
It’s preferable to have everything in good order and waiting so that when the contract attorney arrives they can get straight to work as if they were one of your employees for that day or week. Then, just like with any employee, you can check in with them periodically to make sure there are no problems.
Consider paying for a half of day, morning session or a full day. Even if the contract attorney is going to be spending their time on various projects, it can be a useful way of spreading your cash flow. You do not have to pay upfront for a full day, but pay for half sessions, two hours or hourly to arrange the billing for the contract lawyer.
It is helpful for a New York City lawyer to have a central location for the files and documents relevant to the contract work your business needs done. If you have several high quality contract attorneys that you can use for various short-term issues and you use them regularly, then you will have a great central store of all the records they have worked on.