In Illinois, when two parties come to a mutually understood agreement that they intend to have legal force, a contract is formed. There are both written and oral contracts, since all that is required is that the parties agree and understand each other. Most businesses want to solidify their agreements in writing so that they can rely on them in the future. Since many legal principles may be involved, drafting a contract works best when done with as much knowledge of the law as possible.
Negotiating a Contract in Monmouth
Along with specific clauses that should be included in every Monmouth 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
Using a form contract as a baseline for your agreement may save you time. Attorneys practicing Illinois law in Monmouth can be helpful in selecting the right form, and can also revise the contract to make it the best fit for your particular situation. Using a form contract without the help of an attorney may pose problems. First, a party using a form contract may not have thoroughly read all the terms, and can thereby remain unaware of his performance obligations and liabilities if events do not go as planned. Second, the difficult language used in the field of contracts can make agreements written by others hard to understand. Attorneys can help ensure that a written contract matches the intent of the parties, whether negotiating a contract or using a form. Illinois contract law is a field in which many Monmouth attorneys have specialized.