Chapter XXIX: Section IX: Making Contracts beforehand

In making bargains--with workmen, for example--always do it beforehand, and never suffer the matter to be deferred by their saying they will leave it to your discretion.

There are several reasons why this ought to be done. 1st. It prevents any difficulty afterward; and does no harm, even when the intentions of both parties are perfectly good. 2d. If you are dealing with a knave, it prevents him from accomplishing any evil designs he may have upon you. 3d. Young people are apt to be deceived by appearances, both from a credulity common to their youth and inexperience, and because neither the young nor the old have any certain method of knowing human character by externals. The most open hearted are the most liable to be imposed upon by the designing.

It will be well to have all your business--of course all contracts--as far as may be practicable, in writing. And it would be well if men of business would make it a constant rule, whenever and wherever it is possible, to draw up a minute or memorial of every transaction, subscribed by both, with a clause signifying that in case of any difference, they would submit the matter to arbitration.

Nothing is more common than for a designing person to put off the individual he wishes to take advantage of, by saying; _We shan't disagree. I'll do what's right about it; I won't wrong you, &c._ And then when accounts come to be settled, and the party who thinks himself aggrieved, says that he made the bargain with the expectation of having such and such advantages allowed him, _No_, says the sharper, _I never told you any such thing_.

It is on this account that you cannot be too exact in making contracts; nor is there indeed any safety in dealing with deceitful and avaricious people, after you have taken all the precaution in your power.