Member Resources
IF
IT ’ S NOT IN WRITING , IT DOESN ’ T EXIST :
Preparing Written Contracts
Receiving , reviewing and signing contracts can be an overwhelming process when you ' re just starting out and are unfamiliar with the legalities of joining or starting a practice . To minimize the stress , it is crucial to be able to identify and understand agreements that can protect your rights , impose obligations , and limit your personal , business and legal risks .
Good contracts ensure that you and the other parties involved in the business transaction have the same expectations and that those expectations are clearly communicated . Rest assured , clarity does not necessarily require a 40 page document with complex legal wording . A simple letter of agreement can be just as binding as a formal contract and is often less intimidating and more insightful for those involved .
There are four requirements of a legal , binding and enforceable contract to keep in mind :
INTENTION : Both parties must intend to create a legal relationship . In Ontario , this intention may be presumed when you negotiate a business relationship . When in doubt , always be clear in expressing your interests and expectations with the other party .
AN OFFER : A written offer that sets out the terms and conditions of the proposed agreement has to be presented from one party ( the offeror ) to the other ( the offeree ). It is during this step that you may counteroffer if the proposed arrangement does not reflect your understanding of any earlier discussions . This is the stage where the negotiations happen .
ACCEPTANCE : If the contract is satisfactory , the offeree will inform the offeror that the offer is accepted . It is best practice for the offeree to sign that they accept the offer . If you receive an offer and you are unsure of any of the details or the implications of accepting , it is best to seek clarification . Legal advice before signing any contracts is advisable .
CONSIDERATION : Something of value must be exchanged between the offeror and offeree in order for the contract to be valid . For example , a chiropractor may promise to perform a service in exchange for an agreed-upon fee which may be paid as a salary .
When negotiating a contract , there are many things to discuss with your potential business partners . The following two lists include some common issues that often come up in chiropractic associate and employment agreements . Discussing these issues with your potential partners before signing may help you negotiate a better contract and build a stronger relationship between all parties . These lists are not exhaustive , but they can provide you with a good starting point for your negotiation .
Considerations for Associate Agreements
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Ensure that both parties are properly named in the agreement .
14 SPRING 2017