The Power of a Contract
Are You the Victim of Fine Print?

Washington, D.C., Maryland & Virginia

The Five things you should watch out for when signing a contract are:

1. Pressure Tactics – you should never be pressured into signing a contract that you are not sure about
2. Vague Wording – the wording in your contract should be easy to understand, so there are no mysteries as to what something means
3. Differing Promises – make sure that what the seller is saying does not conflict with what you are signing. If there is a conflict that arises out of the contract verbal agreements or promises are much harder to prove.
4. Blank Spaces – make sure all blank spaces are filled in, and make sure the contract is signed in front of you
5. Advanced Fees – be wary if the seller asks you to pay money now in order to get something later

A contract is supposed to be an agreement between parties that can be enforced by the courts; it can be a very powerful tool. However, if not paid close attention to, a contract can be a curse rather than a blessing.

Any competent adult can enter into a contract for any number of different reasons. As a general rule, all of the written content in a contract is legally binding once you sign it. Because of this, you should never sign a contract that you have not read and understood thoroughly.

When you sign a contract, you could be giving up your rights, agreeing to pay excess money, allowing the other party to terminate the contract whenever they see fit, or even giving up your right to have your case heard by a jury. Before signing a contract in Washington DC, Maryland, or Virginia, review it thoroughly; if you are unclear or have questions about anything, bring the contract to one of the experienced fraud lawyers at Chaikin, Sherman, Cammarata, & Siegel P.C.

Although many contracts have a “cooling off period” that will allow you to void the contract, do not sign anything without reading every portion of the contract, including the fine print. If there is any blank spaces in the contract intended to be filled in by the other party, make sure that they are filled in completely prior to signing the document.

Common problems that arise after people have entered into a contract have to do with the fine print. Many times, people sign contracts without carefully reading all of the fine print and footnotes associated with the contract.

The fine print and footnotes in a contract can contradict, or even reverse the meaning of what is stated in the regular text of a contract. For instance, a credit card solicitation may advertise that it provides a 0% fixed APR. However, within the contract, the footnotes can state that the company retains the right to change the amount of the APR and whether or not it is fixed or variable, for any reason they see fit.

In home improvements, signing a contract without reading the fine print can put your house at risk. Often times within a home improvement contract, there will be a clause stating that if the contract is breached (meaning if you are late, miss, or skip a payment) you can lose the ownership rights you have on your house to the contracting company.

Contracts are used in every area of commerce, and are supposed to keep things fair between the buyer and seller. However, if you do not read all of the terms of the contract and understand what you are signing, the contract that you thought was keeping the seller in line can be your worst nightmare.

There are many ways a contract can be used against you. Make sure that you do not get taken advantage of by carefully reviewing all of the terms of your contract. If you have been taken advantage of with a contract in Washington DC, Virginia, or Maryland, contact the fraud lawyers at Chaikin, Sherman, Cammarata, & Siegel P.C.

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