Caution and disclaimer: The following article is provided solely for educational purposes. This is not legal advice. Readers must seek independent legal advice from a properly licensed practitioner.
A contract is really an agreement. What makes a contact different from other agreements is that a contract is enforceable in law.
You don’t need a lawyer to hold your hands every time you enter into a contract. In fact, most of the time you enter into contracts without knowing it, as most of our daily transactions are governed by contracts. For example, when you buy a coffee, the purchase is governed by a contract that transfers the ownership of that cup of coffee from the shop to you (so you can drink it).
You probably don’t need a lawyer to buy your morning coffee because the amount of money involved is generally small and the potential problems from the transaction (coffee not hot enough?) are generally trivial.
However, you should consider hiring a lawyer if you are thinking about entering into some kind of agreement involving a large sum of money, to make sure that there are no surprises down the road.
