HANDY TIPS

HANDY TIPS :

Ever been offered a get rich quick solution, rushed into signing
a contract or doing business, been intimidated, 
or felt you have no choice?

Whenever you are being encouraged to sign a document, whether by salesman; businessman; estate agent; bank;

STOP WAIT . . . . . take a breath, step away, or simply ensure you are prepared beforehand.

Get your own contract

Never be in a rush to sign a contract. Read carefully. If the other party is your friend or relation, be even more careful. If someone mentions the words:"trust me";"Integrity","Honesty", "Don't worry"; "Ask Fred, he will tell you what Im like"; "this is a one in a million opportunity"; "hurry up or the deal is off", or mentions that they are religous, be even more careful, and get everything in writing.

Double triple check everything.If you lost the deal as a result you probably saved yourself. Never draw a contract yourself. Never sign somebody els'es contract, no matter what, unless you have read it twice, and recieved qualified advice.

Watch out for employees of financial institutions.

They are relying on a law called the “parol evidence rule” that says that where there is a written
contract signed by both parties, the parties are bound and no oral or other extraneous evidence of what was actually discussed is admissible in court.

Never sign anything based on what they promise in words, because what you sign counts and their words or promises count for nothing.
Or as they say in latin:"caveat subscriptor" (the signer BEWARE!!!!!!!!!!!!!!!)

MOST IMPORTANTLY IF YOU HAVE A BAD FEELING ABOUT THE PERSON OR ENTITY, walk away.

NEVER let greed motivate you to sign or contract orally with anyone. Never contract (whether verbally or in writing if you are afraid; desparate or rushed, you could lose everything)

Never enter into a partnership with brothers; friends or cousins. If you can help it avoid partnerships as they normally end in disaster. Do it yourself.If you have to, then spend money and get it in writing.

Never sign a surety , whether it be in the form of a credit agreement with a supplier or otherwise, unless your valuables are safeguarded in a trust, or another separate legal entity.

NEVER allow a family member or friend to sign a surety on your behalf.

WHEN YOU BUY A BUSINESS:

1	:	ASk yourself the question: why are these folk selling if its making them so much money. Don't rely on a business broker, as he gets commission based on purchase price, whether you succeed or fail.Check the contract thoroughly and get  advice.What you pay then will save you in the future.
2	:	Get your auditor or commercial lawyer to do a thorough inspection and valuation.
3	:	Get the sellers Chartered accountant to furnish you with a certified copy of the business balance sheet and income statement. If its not the truth you can sue the seller and the accountant for damages.If there is machinery involved or buildings, have those thoroughly examined too.
4	:	Conduct a credit burea investigation.
5	:	Speak to your prospective landlord, where applicable.

WHEN YOU BUY A HOUSE:

1	:	Ask a builder to conduct a thorough investigation of any faults in the house before you sign.
2	:	Add a clause in the agreement to the effect that if the seller removes any fixtures or fittings, no matter how small,she/he will be prosecuted and liable to refund the current market value of the fixture, and pay the installation and repair cost.

WHEN YOU LEASE A PROPERTY:

1	:	Inspect for faults.
2	:	Speak to previous tenant.
3	:	Get lease checked thoroughly by qualified person and read twice yourself, if lease seems unfair don't sign.
4	:	Never rely on agents oral promises.

BUSINESS CONTRACTS:

1	:	Never sign based on greed or desparation or if you are in a rush.
2	:	Get all transactions in writing, no matter how small.
3	:	Never let a customer take delivery of goods unless paid upfront, or you have thoroughly investigated his/her/its creditworthiness , including credit bureau , and customer has signed a legitimate credit application form and a surety, where applicable.
4	:	Never rely on agents oral promises.

BUILDING CONTRACTS:

1	:	Make sure the builder is reputable
2	:	Have detailed meeting discussing exactly what you require the builder to do. Make certain there is no misunderstanding.
3	:	Enter into written agreement making sure that everything the builder is required to do is included to the last detail.
4	:	Builder must agree to time limit and penalties for late performance.
5	:	Make sure the builder has indemnity insurance.