What is a Contract?

Fairbanks Contract Drafting Attorneys, AK

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A contract in Alaska is an agreement about something of value between two or more parties who intend the agreement to have legal effect. It may be oral or written, as long as all parties agree to the contractual terms. A written contract is generally preferred by most businesses, because that make the agreements more reliable. Contracts may involve legal principles, so they are best formed with a clear understanding of the law.

Negotiating a Contract in Fairbanks

Along with particular clauses that should be included in every Fairbanks contract for it to be valid, it is important to adequately discuss each term to make sure that the intent of each party is understood by the other. Stating your intentions clearly at the outset of negotiations is helpful, since then the parties may carefully detail the obligations and duties of the contract based on mutual expectations. Also, you may want to negotiate a process that can be followed should one party not fulfill its end of the contract.

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Using a Form Contract

It may save you time to use a form contract instead of drafting your own. Even so, you may want an attorney in Fairbanks, Alaska to add or remove provisions, or to simply make the contract language more clear. There are risks in using form contracts without the advice of an attorney. First, parties are less likely to read form contracts completely, which may lead to one side being unaware of their duties under the contract. Second, the challenging language used in the field of contracts can make agreements written by others difficult to understand. Whether you decide to negotiate a contract or use a form contract, an attorney will be able to help you ensure that the written instrument matches your intent. Many lawyers practicing in Fairbanks are experts of Alaska contract law.

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