2 What are the advantages and disadvantages of hiring a lawy

2. What are the advantages and disadvantages of hiring a lawyer to draft or review a contract?

Solution

Advantages:

>> They know the law. They can make us understand the legal terms in a clear way

>> Lawyers can protect us against the unexpected events in the future

>> Having a lawyer on our side makes other party understand that we are legally protected and clauses would be drafted carefully.

>> Contracts would be robust with out loop holes so that the other party doesn\'t take advantage of these loop holes

Disadvantages:

>> Lot of time is wasted when a lawyer is appointed. Meeting have to be fixed between you and your lawyer and then between your lawyer and other party. This entire process consumes lot of time.

>> Money charged by lawyers is usually high. Hiring a lawyer is a huge cost.