The brains of most writers are not equipped to deal with contracts, since we are in a profession that requires to craft artful sentences, paragraphs, etc. to please the respective reader; contracts on the other hand are supposed to cloak most of the meaning by using a kind of language that is simply mind-numbing to phrase it really friendly.
There are two posts on Pub Rants that every writer should read, especially the ones trying to make it without an agent. The first one is called Agenting 101 Revisited—Author Warranties and the second Agenting 101 Revisited—No Compete.
Read them, seriously.
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