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Lawyer Question - Cost to Draw up Short Contract?
Anyone who is a Lawyer/Have Seriously Asked a Lawyer to draw up a short contract -- How much is a good respectable amount of money to pay a lawyer/tip a good family friend (Lawyer) to have some short business rental papers drawn up for example. Nothing fancy, but obviously still takes some time to do, what would be a satisfactory Tip/Payment for something like that? Ex. Renting property/business for X amount of Dollars per month, with 5 year contract with detailed assets in use/option to extend/buy at the end of the terem of the lease (Awkwardly put, lol)
Public Comments
- Look for some software with contract templates
- A family friend might be insulted at your even offering to pay anything for an occasional hand with simple legal documents, but it is good to have an understanding. However, if it might become a habit, or you are not very close to this person, ask the "going rate" for this type of work in his or her office, and expect no discount. You may be pleasantly surprised to find a large "credit" on the bill when it comes. I have a "city rate" and a "country rate" that I charge different clients, with the city rate being much higher for a case that involves going to the city (which I hate) and much lower for cases that I enjoy handling. For example, I might charge $100 per hour for a simple contract, but limit my bill to three hours, even if it took me longer, and then show the extra time as a "courtesy discount." On the other hand, I might charge up to $400 per hour and a $7,000 retainer to draft a U.S. patent application, assuming it was interesting technology that would even justify my spending time on it. ps: do NOT use off-the-shelf contract forms unless you want to explain why you used the wrong form or left out some critical element that your particular state requires, and have nobody to blame for malpractice.
