Well, we have seen several good articles on the perils of signing documents, even those documents that are presented to us by close friends or family members.
Therefore, the first item for discussion is very simple: always read what you are signing and be aware of the consequences of signing documents. There is an old law school maxim that "the worst written contract is better than the best oral contract." If it is in writing, most likely it is admissible in court. Once you sign the document, you are usually bound by the contents of these documents. Therefore, know what you are signing.
Examples that have been given here include co-signing loans. It should be clear just on the face of it (you are a "co-signer"), but if not, be aware that you are responsible for paying back a loan if the primary borrower cannot. Your signature on the loan document is not just there for fun - you are putting your name and promise on a legally binding document.
Therefore, although this advice is as old as dirt, it is still just as relevant - always read first what you are being asked to sign.
For the next post, we will examine some defenses to removing yourself from the legal consequences of signed documents.
Therefore, the first item for discussion is very simple: always read what you are signing and be aware of the consequences of signing documents. There is an old law school maxim that "the worst written contract is better than the best oral contract." If it is in writing, most likely it is admissible in court. Once you sign the document, you are usually bound by the contents of these documents. Therefore, know what you are signing.
Examples that have been given here include co-signing loans. It should be clear just on the face of it (you are a "co-signer"), but if not, be aware that you are responsible for paying back a loan if the primary borrower cannot. Your signature on the loan document is not just there for fun - you are putting your name and promise on a legally binding document.
Therefore, although this advice is as old as dirt, it is still just as relevant - always read first what you are being asked to sign.
For the next post, we will examine some defenses to removing yourself from the legal consequences of signed documents.
NOTE: THE INFORMATION IN THIS BLOG IS NOT LEGAL ADVICE NOR
IS IT INTENDED TO BE LEGAL ADVICE. IF
THE READER HAS ANY LEGAL QUESTIONS, PLEASE REFER TO AN ATTORNEY.
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tausk
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