What is a Contract?

Find the right Contract Drafting attorney in Memphis, TN

In Tennessee, a contract is different from a normal agreement in that the parties to a contract intend their agreement to have legal effect. Contracts might be oral or written, as long as both parties have the same understanding of the terms of the agreement. The reliability of written contracts typically make them the preferred means for businesses to transact. Since the intent of a contract is to be legally effective, they are best formed by those who understand the law.

Negotiating a Contract in Memphis

Negotiation of each particular term in a contract is important to ensure that the intent of each party is met. Also, there are certain clauses that should be included in every Memphis contract to give it the desired legal effect. Being upfront about your intentions can help the contract goal of mutual understanding of expectations. To conclude negotiations, you may want to include a clause that determines what is to be done if a party fails to meet its duty.

Using a Form Contract

Form contracts can serve as a good starting point for a sound agreement. Lawyers in Memphis, Tennessee often keep past contracts on file, and can add or remove terms based on the situation. They can also reword the specific language of form contracts to make them more clear. There are risks to using a contract that neither party has written, particularly if you proceed without the advice of an attorney. First, a party using a form contract may not have completely read all the terms, and can thereby remain unaware of his performance obligations and liabilities if events do not go as planned. Second, using a contract that someone else has written can obligate the parties to a contract clause that they do not understand. With either a negotiated contract or a form, an attorney can ensure that the written document matches the intent of each party. Lawyers in Memphis often specialize in Tennessee contract law.

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Life in Memphis

Memphis, Tennessee has something for everyone. Popular family attractions include Graceland, Main Street Trolley, AutoZone Park, and the Gibson Factory. Memphis is also known as a city rich in history, so there are many museums to see! Some museums include the National Civil Rights Museum, Stax Museum of American Soul Music, Mississippi River Museum at Mud Island, and the Memphis Rock 'n' Soul Museum.

Amongst all the cities in the United States, Memphis is deemed the twentieth largest city in the U.S. Along with Nashville, Memphis is known to be one of Tennessee's most exciting and metropolitan cities with a population of around 1,316,100 people. Downtown Memphis lies along the Mississippi River and is home to many companies and law firms. Memphis attorneys have a reputation of being competent and client oriented, focusing on providing excellent legal services to Memphis residents.

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