Contracts in general

Just a quick word on contracts. Not just employment contracts, but ANY contracts.

A friend recently complained that her tenants always pay their rent a few days late. Although the contract stipulates that rent will be paid on or before the 1st of every month, her tenants regularly pay around the 5th or 6th. When she reminded them that they need to pay earlier, their response was that the law gives them until the 7th of the month. And now she’s upset because she has to wait a week longer to get her money.

My immediate response to this was: what law?

I find this pretty often. One party will claim that “the law” gives them the right to do this and that, when in fact, no such law exists.
There is a principle in law called “common law”, but this is not statute law (written law) and any argument based on common law has to be decided by a court or similar authoritative body. Nothing in common law is a foregone conclusion…

So whether you’re the one quoting “the law” or the one on the receiving end, beware. Ignorance can be expensive, especially when it comes to contracts.

If you’re uncertain, call a professional!

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