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 Freeport

There is more to a contract than what is required for it to be valid in Freeport. The particular terms of the contract should all be discussed separately so that the intent of each party is understood by the other. The terms of the contract may be determined based on clear expectations if both parties are forthright 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. Attorneys practicing Illinois law in Freeport can be helpful in selecting the right form, and can also revise the contract to make it the best fit for your distinct situation. However, form contracts can pose problems if they need to be interpreted by courts, especially if they are used without the assistance 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, 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 Freeport often specialize in Illinois contract law.