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 Wellington
Along with particular clauses that should be included in every Wellington 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. 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
Many Wellington, Colorado lawyers use form contracts as a template for any new agreement. The attorney will add or remove contract provisions that the parties want, plus modify the specific language of the form contract to meet the parties' needs. This usually saves all parties time and money. Using a form contract without the advice of an attorney may pose problems. 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, form contracts often use words and language understood only within the legal community. This may cause parties to agree to a clause they don't really understand. Whether you negotiate or use a form, an attorney can help ensure that the written contract matches your intent. Many lawyers in Wellington are experts in Colorado contract law.