Sign on the Dotted Line

Let's face it: it's virtually impossible to read every document that you sign. Like last weekend, I had to sign a rental agreement with Enterprise (which closed in 2 minutes) or be stranded in a tiny hotel with 4 kids and 4 carseats. (If you know, you know).

But whether you read a document or not, Mississippi law assumes that you did, under what's often called the "duty to read." Two cases last week from the state's highest court drill this point home.

In the first case, a law firm's operating agreement allowed the firm to terminate the partner for any reason and without a meeting or notice. The former partner believed he was treated unfairly, but because of what the operating agreement said, the court didn't even allow him to gather evidence to support his claims.

In the second case, a business owner found out the hard way that he didn't have insurance for claims made against his salvaging business. The owner said that his insurance agent knew about the nature of his business and sold him the policy without the needed coverage. But since any false statement by the agent could be "cured by reading" the insurance policy, the business owner was out of luck.

So while you may choose to skim (or ignore) things like Apple's terms and conditions, for documents that can seriously impact your life or business, it is critical to read and consider (or have a lawyer do that) before you sign.