How Good Are Your Contracts?
The importance of ensuring that a contract the Association is about to enter into is legally satisfactory cannot be overstated. Too often, boards enter into contracts without fully understanding the scope of work contained in the contract or without realizing that the contract does not adequately protect the Association. As a result, when a dispute arises, the Association may find that it does not make economic sense to pursue any breach of contract claims. However, with some proactive measures, the Association may enhance its chances of prevailing in the event of a dispute.
