A contract in Iowa 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. In business transactions, written contracts are typically preferred for their reliability. These documents are best drafted by those who understand the law, because the very reason for a contract is to legally obligate the parties.
Negotiating a Contract in De Witt
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 De Witt contract to give it the desired legal effect. The terms of the contract may be decided based on clear expectations if both parties are upfront about their intentions early on. Also, parties may want to discuss whether they need a provision for resolving any disputes under the contract.
Using a Form Contract
Using a form contract as a baseline for your agreement may save you time. Lawyers practicing Iowa law in De Witt can be helpful in selecting the right form, and can also revise the contract to make it the best fit for your particular situation. However, form contracts can pose problems if they need to be interpreted by courts, particularly if they are used without the guidance 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, 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. Lawyers can help ensure that a written contract matches the intent of the parties, whether negotiating a contract or using a form. Iowa contract law is a field in which many De Witt Lawyers have specialized.