Your Life's Most Important Moments are Contractual
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Getting married, starting a business, buying or renting a house - they’re all major life steps that are governed by contracts. You would think that for things this important, we would have a handle on what we’re signing. However, Attorney and PUGS instructor Michael Jonas says contracts don’t just impact big decisions but small ones too. Jonas is leading our Introduction to Contracts course, starting online from May 21. He was kind enough to answer some questions about it.
Q: Under what circumstances do people usually encounter contracts?
JONAS: Everything is a contract. No, really. From ordering food at a restaurant (your contract is their menu offerings, your order, you getting and eating the food, and you paying) to contracts for service projects. It's important to understand contracts and contract law so we know not only what to look for, but what we may want to ask for more clarification on. For example, if you create intellectual property, knowing who will own it-you or your client. It's also important to know not just about who may be liable for certain things, but process items such as: When will I get paid? How will I get paid? Can this contract be extended or canceled? And so on.
Q: What are some things folks often misunderstand about contracts and how they are impacted by them?
JONAS: People think that if they pull any contract off of the web that it will be more protective than not having a contract at all. Sometimes this isn't true. A random contract will not only lack your specific business information and procedures, it won't address your risks. It could also have outdated law. There's also a misunderstanding that contracts are only for/by/between lawyers. Sometimes people say things like, "Just sign this, my lawyer wrote it." Contracts can be and should be understood by all involved-not just the attorneys. Another misunderstanding or misconception is that contract law is not understandable and full of legalese. While it is a legal document, a contract can take place with two parties on a small piece of paper and still be legally binding. Understanding that what makes a contract a contract is not just a formality, length, or big words is crucial here.
I want participants to walk away knowing the main fundamentals of what contracts are and the power that they have.
Michael Jonas, Introduction to Contracts instructor
Q: You have promised to make this fun. Without giving away any surprises, what's your plan?
JONAS: I try (and hopefully succeed) with all of my teaching to make things not just about theory but about the real world. As a result, I not only use real-life examples, I ask the class I'm teaching for feedback during the class. I also often use jokes and memes in my presentations. Humor helps us not only get through life during tough times, but it also helps us learn. The other thing to mention is that even though I'm an academic, I personally get bored by lectures where people just read. All of my classes have specific lesson plans and goals but they are conversations. They are me talking with you, not at you. Again, I promise it will be fun.
Q: What do you hope participants take from this course?
JONAS: I want participants to walk away knowing the main fundamentals of what contracts are and the power that they have. That said, I want them to realize that by understanding and "leaning in" to contracts, we all have better results. Your business processes will improve. Your communication will be more consistent, etc. I will also talk about a few types of specific contracts and how they are implemented and go over several of my suggestions regarding the contracting process. If participants are more comfortable talking about contracts and knowing they can help with preventative business law and liability prevention/minimization practices, I have done my job.