A contract in Colorado 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. The reliability of written contracts usually 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 Colorado Springs
Along with particular clauses that should be included in every Colorado Springs 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 beginning 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.
Using a Form Contract
Form contracts can serve as a good starting point for a sound agreement. Lawyers in Colorado Springs, Colorado often keep past contracts on file, and can add or remove clauses 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 guidance of an attorney. First, form contracts have the tendency to go unread. Any party who does not carefully review all the contract clauses can be left unaware of their obligations under the contract. Second, form contracts will often contain language that is difficult to understand outside the legal community. This can cause disagreement over the meaning of a clause. An attorney can ensure that a written contract matches the intent of the parties, both with form contracts and in negotiations. In Colorado Springs, many lawyers specialize in Colorado contract law.