Q: Me and some friends are starting a independent music business. Should we have a contract ?
Being an independent business, does that mean we dont need a contract ? Do you always want to have a contract no matter what ?
A: It is always best to have a written contract. Note that a contract can be formed orally or by the actions of the parties, and sometimes the law will "imply" a contract to prevent unjust enrichment or other injustice. Since many businesses fail, a written contact would avoid misunderstandings, minimize potential disputes and help you and you partner allocate the risks/benefits of your business venture.
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