Be Careful When You Sign on the Dotted Line

People will sometimes ask me if they have a right to back out of a contract once they've signed it. They generally do not. Once a contract is signed, that's usually it. The deal is done. This holds true whether it's a contract for a car, real estate, or some kind of membership. But I understand where their questions come from.

There are places that have a "cool down" period if you want to call it that, where someone might have a time window in which to change their mind. It could be 48 hours, 72 hours, or other interval. Please be careful because this is not the case with most contracts, unless they contain special terms that allow cancellation. And most contracts do not. So the time to think and reflect is BEFORE putting pen to paper. This applies to contracts that are sealed with a handshake, verbal agreement, or keystroke on a computer. While people tend to sometimes believe that unless a contract is reduced a traditional form of paper and ink, people have an "out." Keep in mind that non-written contracts can be just as binding as written ones, although they could be harder to prove. The lesson here... make certain you're committed to the deal. Once a contract is signed, it could be difficult to go back on the deal without costly legal action. Good luck - Kendinize Iyi Bakin, Timur Akpinar, (718) 224-9824, <a href='mailto:[email protected],'>[email protected],</a> www.benimavukatim.com