A legal contract is not something to play around with
Not too long ago I blog about some business lessons we could learn from Pacquiao’s victory over Dela Hoya. Now, he is again showing us some things we can learn and apply to our business… not to play around with legal contracts.
Manny Pacquiao‘s discipline and commitment to his sport cannot be questioned, we all see how he puts his heart into every fight. But recently, he is doing more than a good sportsman can do – violating legal contracts.
Wikipedia defines contract as “an exchange of promises between two or more parties to do, or refrain from doing, an act which is enforceable in a court of law. It is a binding legal agreement.”
In Pacquiao and Solar Sports‘ case, it was agreed that the latter would have the exclusive airtime rights on all of Pacquiao’s fight until May 6, 2011. Which include the upcoming Pacquiao-Hatton match.
A contract is not something that can be changed out of one of the party’s whim. Just like what Pacquiao did when he suddenly gave ABS-CBN the airtime rights to his fight.
Of course, when you do that, expect to face legal cases. Unless you really have enough financial resources and a good team of defense lawyers, I suggest you do not follow Pacman’s example.
Pacquiao’s case with Solar isn’t his first, he has been deviating from his contract even then. He may be the best pound-for-pound fighter now, but he isn’t seem to be the best when it comes to following contracts.
You may think you may get away with it, and earn more money in the process. But things come around, it might get back to you sooner that you think.
So before you enter into any contract, read every details, especially the fine prints. If you want to, include an ‘exit clause’ in the contract that allow you to ‘exit,’ terminate, rescind and end a contract upon the occurence of a certain condition.
Bottom line, be a better enterpreneur – because you are a man who can keep your part of the deal. You are a man of your word.
Honor your contract.
UPDATE on Pacquiao: He kept his contract with Solar Sports, but now without tarnishing his own image.
Comments
7 Comments on A legal contract is not something to play around with
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pmonchet on
Sun, 22nd Mar 2009 3:52 pm
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reyna elena on
Sun, 22nd Mar 2009 10:04 pm
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Dinah on
Mon, 23rd Mar 2009 7:50 pm
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Manny Pacquiao blames ABS-CBN | The Struggling Blogger on
Tue, 24th Mar 2009 7:34 am
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Shu Fen on
Tue, 24th Mar 2009 1:13 pm
Your right Roy, mukhang sumobra ang talino ni Pacquaio sa pag English at inisip niya na ang isang papel lamang na contrata ay madaling ibasura. Gawa lang siya ng kunting problema as “escape clause” pwede na. Ano siya hilo. hehehe. Eh mag negosyanteng professional ang kausap niya. Tapos balak pa niya maging politician? Tsk, tsk, tsk,Bahala na si Lord sa kanya.
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teka lang!!! di ba doktor na sya? baka dala nang doctorate kaya uber na ang analysis nya ngayon?? hahaha!
reyna elena’s last blog post..Becoming debt-free
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sabi nga ng nanay ko, bakit hindi na lang siya magboxing. e ang dami na nyang binabayarang advisers. kung di rin lang siya makikinig e di sibakin nya lahat.
this is just a preview of what kind of person he has become. tapos gusto nya pa mag politiko? nanay kupo! qualified nga!
Dinah’s last blog post..The Boyet Fajardo Scandal
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[...] Just like what I said in my other blog, legal contracts are not something that you can play around it. [...]
Hey! your fellow EC member dropping by ^^ great blog! keep up the good work! 
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Roy Reply:
March 22nd, 2009 at 3:54 pm
oo nga Sir Mon, kaya lang sa ginagawa niya lumalabas tuloy ang kakulangan niya ng pang-unawa sa mga legal na bagay
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