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 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 Windsor

Along with specific clauses that should be included in every Windsor 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 forthright 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 Windsor, Colorado attorneys 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. There are risks to using a contract that neither party has written, especially if you proceed without the help of an attorney. First, parties using form contracts often do not read all the terms, and can therefore be unaware of their obligations under the contract. Second, using a contract that someone else has written can obligate the parties to a contract term that they do not understand. An attorney can ensure that a written contract matches the intent of the parties, both with form contracts and in negotiations. In Windsor, many attorneys specialize in Colorado contract law.