A contract in Illinois 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. In business transactions, written contracts are usually 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 Canton
There is more to a contract than what is required for it to be valid in Canton. The particular terms of the contract should all be discussed separately so that the intent of each party is understood by the other. Being forthright about your intentions early on can be helpful, because it allows the terms of the contract to be determined based on clear expectations. Lastly, a clause that determines how to handle a dispute under the contract may be worthwhile to negotiate.
Using a Form Contract
Using a form contract as a baseline for your agreement may save you time. Attorneys practicing Illinois law in Canton can be helpful in selecting the right form, and can also revise the contract to make it the best fit for your distinct situation. If the parties attempt to use a form contract without an attorney's help, there may be risks. First, using a form contract makes it more likely that one of the parties will not have understood the terms. This can lead to them being unaware of their duties under the contract. Second, form contracts often contain language that is specific to the field of law, and using forms without an understanding of this language can cause future disagreements over a contract's meaning. With either a negotiated contract or a form, an attorney can ensure that the written document matches the intent of each party. Attorneys in Canton often specialize in Illinois contract law.