In Indiana, 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 Richmond
Along with certain clauses that should be included in every Richmond 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. 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
If an agreement needs a good starting point, you may want to consider a form contract. An attorney in Richmond,Indiana can add or remove provisions according to the intent of the parties, and even the specific language can be made more comprehensible so that expectations are clear. However, form contracts can pose problems if they need to be interpreted by courts, particularly if they are used without the advice 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 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. Lawyers can help ensure that a written contract matches the intent of the parties, whether negotiating a contract or using a form. Indiana contract law is a field in which many Richmond Lawyers have specialized.