Why the objection to contracts?

[hillsdown]

Naw.it's obvious from quite a distance! Very little chance I am taking anything out in trade there. She's packin enuf extra skin to make a nice set of luggage.

Now that is a visual I really didn't need on my head :yuck: Way too explicit :lol: :lol2:

 

[rogergreaves]

Seems to me that the people that don't like contracts are the ones that don't like being bound to their word.

Bad stuff can still happen, but a contract can end up saving you from it being much worse. Know of a situation where a divorce took place. One party leased some land and took payment. The other "claimed" they knew nothing of it and sued the renter for trespass at 3 times the price of rent for the duration of the renter's use of the land.

Lawyers are expensive no matter how things turn out. I prefer to not need them, or need them for as little amount of time as possible.

I agree, the only reason to object to a contract is to leave yourself an opportunity to change the deal later. Which is very nearly what happened to me. BTW there is a contract for the bull lease.

 

[boondocks]

Everyone in favoring of getting it in writing has made very good points. I'll just add this one:
Forcing it to be put in writing makes both/all parties think through all of the variables, what-if's, and what-could-go-wrongs. In other words, it "surfaces" issues that would otherwise stay buried, waiting to strike later. By committing the agreement to writing, yes, you may have to have a difficult discussion or two with a neighbor, family member, or partner, or whoever is across the table from you.But better to have difficult or complex issues sorted out upfront, than to be torpedoed later.

A final reason is that (depending on the state, etc), some types of contracts must be in writing if you need to actually sue to enforce it if it all blows up.

Put it in writing. It needn't be fancy, just thought-out and clear.

 

[Nesikep]

I like written contracts on anything of significant value.. if I've known people a long time I can do a handshake deal on the minor stuff and be fine with it.

Grazing leases, bull leases etc all need to be in writing... For some equipment (an emergency baler loan for example) may not need a written agreement, but I do like to spell out the expectations on both sides.. like I will cover anything related to damage, but we share cost (I can do labor) on things related to wear (round baler bearings are a great example).

Thankfully I'm not in a position I need to lend out or borrow anything.

With one of my friends we just have rolling accounts of who owes who which parts for our trucks.. if anyone ever needs something and the other has it, they're free to just come and pick it up, we know the favor will be returned.