HAVE YOU LOST YOUR MIND???
Of course you need a contract! Here, let me explain what a contract is:
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| A contract is an agreement between two or more people which is legally binding. | |
| Three essential ingredients |
• Agreement - one person has made a firm offer which the other has accepted.
• An intention to create a legal relationship - this is automatically presumed in a commercial agreement.
• Consideration - this is the price (ie money) or something of value in the eyes of the law (eg a promise in return for a counter-promise). | |
| Verbal agreements |
A contract need not be in writing to be legally valid, apart from exceptions such as house purchase, assignment of copyright and credit agreements, provided it contains the three elements above. A verbal agreement will be legally enforceable but the advantages of committing the terms to paper are manifold. | |
| Transactions |
Almost all transactions in the business, theatrical and musical worlds are conducted using written contracts.
They give:
• a checklist and points of reference
• a professional framework to a business relationship
• proof as to what was agreed should a dispute arise
• an opportunity for the parties to concentrate on the nature of the transaction and their mutual obligations. | |
| Form of contract |
A written contract should be a formal document and in some cases must be a formal document to be valid. The contractual terms may well be contained in a form detailing what was agreed. During a meeting take a note of the points covered and at the end read them back to the other person to ensure there is a mutual understanding of what has been agreed. Then confirm those points in a form as soon as possible afterwards.
Use of a standard contract (the same basic form with details relating to venue, dates, fee, etc changing) will save time renegotiating all the basic conditions. It also ensures no important point is omitted as it serves as a memorandum of terms to be covered and provides the artist with maximum protection. | | | |
I do not have time for all of this; can I just get a lawyer handle this for me?
Sure a lawyer can but the question is, CAN YOU AFFORD ONE? If you can, then you might be looking at the wrong website. But if you cannot and you need contracts that suite your everyday business needs then you are in the right place. Lawyers can cost between $200-$400 AN HOUR!!! A lawyer can draw contracts up for your specific deals or for general purpose (and this is usually done by an assistant or legal secretary). Entertainment law is a very narrow field and all lawyers may not have the knowledge or have the expertise to think of all aspects of your contract. Your aunt’s family lawyer is not necessarily going to have the knowledge to give you what you really need.
Is IndustryContracts.com expensive?
Heck No! At OUR PRICES, you can’t afford NOT TO! The most expensive thing we sell is only $50.00!
I don't need a contract. She is my family member.
Wait! Stop! Hold the Press! Hasn't anybody told you? Sometimes it is your family member that is the first one to screw you, just ask Emenim!
YOU MUST HAVE A CONTRACT (read our Horror Stories Section). Family members or strangers, putting your business dealings in writing is the ONLY way to ensure accurate treatment over time. Some say family and business (or even friendship and business) shouldn’t mix. This statement has proven in the past to have 100% ACCURACY. To avoid these troubles, start with a written agreement that is spelled out in black & white and not someone’s recollection of a past conversation. |
