Profit participation loan agreement template – Can the free legal documents offered on the Internet be a replacement for consulting with an attorney?
In some instances, most definitely.
To provide a simple illustration: The law in your state may require a written contract for the sale of goods over a certain value. Or for that matter, you might choose to grant your parent a power of attorney to sell something on your behalf whilst away on holiday. It does not require specialized legal knowledge to compile a bill of sale for a motorcycle, automobile or other goods or to draw a limited power of attorney.
Likewise, a young person without plenty of assets may want to draft a last will and testament or a living will. For many young people a standard legal template can be used to make their files and the forms can be downloaded free from the Internet, without incurring legal costs. Needless to say, it’ll be a different case for a billionaire with various assets and a complicated will where consultation with a legal or financial expert is invaluable.
Many parents recognize the need for a medical consent form for a babysitter in case of a medical emergency. Or they may require a broader temporary guardianship form when their child will be staying with a family member or trusted friend. These sample forms are freely available online.
Free legal documents are particularly valuable when they are also accompanied by legal guidelines on how best to complete them.
Although the law recognizes oral agreements, it always makes sense to get it in writing to avoid arguments over what exactly was agreed upon. Applying sample legal documents to compile your own contracts is not any different to lawyers using their existing templates for standard agreements.
Of course there are several instances where you must consult with an attorney. Again, you can use the free legal documents and free legal information available on the Internet to do your preparation ahead and so lower the consulting time – and hours billed. Please have a look our profit participation loan agreement template on the attachment page.
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