January 16, 2012
The Fine Print on Contracts
Before you sign on the dotted line, it's important to anticipate things that could go wrong. Here are a few tips detailing what you should watch for.
Keep this in mind: Once a contract is signed, it usually can't be broken unless all parties agree. So before you sign on the dotted line, try to anticipate things that could go wrong. For example:
* You sign a lease but later decide you can't afford the rent.
* You cosign a loan and the other person stops making payments. You're responsible for the full amount; otherwise your credit will suffer.
* You buy a car you can't afford, but when you try to sell it, the car is worth less than your outstanding loan balance.
* You buy a cell phone plan, but after the grace period ends, you discover the reception is spotty.
Bottom line: Contracts protect both parties. Just make sure you understand all details before signing.
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