A contract in Colorado is an agreement about anything 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 generally 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 Englewood
Along with certain clauses that should be included in every Englewood 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.
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 Englewood, Colorado to add or remove provisions, or to simply make the contract language more clear. There are risks to using a contract that neither party has written, especially if you proceed without the assistance of an attorney. First, a party using a form contract may not have thoroughly read all the terms, and can thereby remain unaware of his performance obligations and liabilities if events do not go as planned. 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 term. With either a negotiated contract or a form, an attorney can ensure that the written document matches the intent of each party. Attorneys in Englewood often specialize in Colorado contract law.