The importance of reading the small print
Get the contract right or go to jail
Lawyers to companies routinely (and annoyingly) urge directors or partners to check their trading practices “small”.
Some even offer a review free of charge, the credit crunch being what it is!
Most clients put this on one side for ever, but now there is an extra reason for actually doing it.
The Trading Standards and Office of Fair Trading have shown that they are increasingly willing to take criminal action in relation to commercial practices and unfair terms.
They have recently targeted both Foxtons and Ryanair. The penalties are fines up to £5,000 and/or two years in prison.
When drafting a contract it is probably not what was expected.
Boring it is but it should not be put off now.
Contact Rodney Hylton-Potts on 020 7381 8111 or email law@rh-p.net for your free small print review.
Vote: 2
