In Illinois, when two parties come to a mutually understood agreement that they intend to have legal force, a contract is created. 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 might be involved, drafting a contract works best when done with as much knowledge of the law as possible.
Negotiating a Contract in Villa Park
There is more to a contract than what is required for it to be valid in Villa Park. 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 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
Many Villa Park, Illinois Lawyers 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. 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, using a form contract makes it more likely that one of the parties will not have understood the clauses. This can lead to them being unaware of their duties under the contract. Second, form contracts often contain language that is particular 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. Lawyers in Villa Park often specialize in Illinois contract law.