Read the fine print: it can save you time, money, and grief!(Legal Speak)

• Author: Saade, Renea I.

An average consumer encounters written contracts on a regular basis. Transactions over the internet typically require you to read and agree to the terms and conditions that govern the access to data being granted or to confirm that you are waiving certain rights to privacy. Every cell phone company and fitness facility requires their customers to sign lengthy written agreements that set forth the rules that govern the new relationship. Although laws have been passed to ensure that the font used in such agreements meets a minimum size requirement (so we can actually read it without a magnifying glass), the language is still often convoluted and so plagued by legal jargon that it can be difficult to determine what you agreed to do.

Now that the holiday and year-end dust has settled, you may find yourself surrounded by new gym membership contracts, warranty agreements for new appliances, extended repair agreements for new electronic gadgets, or subscription agreements for new service and delivery orders.

If you do, be sure to read the fine print in those contracts. In fact, you should closely read any contract before signing it. By taking the time to read at least the key terms and conditions, you can save yourself a great deal of time, money, and grief in the future. Key terms to look for include:

Promises: Often the devil is in the details-your rights and remedies will turn on exactly what words are used. It is easy to skim and take away what you believe is the reasonable interpretation and intent; however, the true meaning and effect of the sentence may be something very different. To ensure you fully understand what the deal is, carefully read the sentences that describe what the company promises to do or give you as well as any exclusions and expiration dates.

Notice Requirements: If you need to invoke a warranty or repair promise or demand that the company comply with their obligations, you usually need to make the request in a particular way and send it to a specific address. Similarly, if you decide you want to cancel a membership or service, you usually must provide advance notice of your intent and send the cancellation notice in a particular format to a specific address. While companies must be reasonable in enforcing these notice requirements, it will save you a lot of time, energy, and frustration if you understand the requirements and comply with them the first time around. Understanding your notice requirements will also help...