Trust your gut when considering a business agreement.
Sometimes you can’t identify why you should reject a deal. Yet there’s a nagging feeling something’s wrong.
What if a potential deal looks good on paper? Remember that a contract is only as good as the integrity of the people signing it. Con artists will sign contracts all day…and not lose a wink of sleep as they screw over their victims.
When you’re discussing a possible deal, here are three red flags you should pay attention to…
1. Let’s Pray On It
When someone insists you should do a deal with them because they’re religious, they’re trying to con you. There’s no reason to trust someone because they claim to be a good Christian, Jew, Muslim, Buddhist, Hindu, etc.
2. Fake Relationship
It’s one thing to be cordial during negotiations. It’s quite another to pretend a close relationship exists. You’re hoodwinked this way when there’s excessive flattery. Plus calling you “friend,” “buddy,” etc. if there’s no friendship.
3. Handshake Business Agreement
When the other party insists on a deal without a business contract, it’s likely a scam. A handshake “gentleman’s agreement” is a common method for a dishonest person to get what they want. But they don’t intend to perform.
What if a business deal makes sense? And there are no warning signs something’s wrong?
Of course, you’ll want an experienced business contracts lawyer to prepare an agreement to protect you. If you need a contract, let’s talk.