In Kentucky, 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. The reliability of written contracts usually make them the preferred means for businesses to transact. Since the intent of a contract is to be legally effective, they are best formed by those who understand the law.

Negotiating a Contract in Edgewood

There is more to a contract than what is required for it to be valid in Edgewood. The particular terms of the contract should all be discussed separately so that the intent of each party is understood by the other. Stating your intentions clearly at the beginning of negotiations is helpful, since then the parties may carefully detail the obligations and duties of the contract based on mutual expectations. Also, you may want to negotiate a process that can be followed should one party not fulfill its end of the contract.

Using a Form Contract

Form contracts can serve as a good starting point for a sound agreement. Attorneys in Edgewood, Kentucky often keep past contracts on file, and can add or remove clauses based on the situation. They can also reword the specific language of form contracts to make them more clear. There are risks to using a contract that neither party has written, especially if you proceed 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 use words and language understood only within the legal community. This may cause parties to agree to a term they don't really understand. Attorneys can help ensure that a written contract matches the intent of the parties, whether negotiating a contract or using a form. Kentucky contract law is a field in which many Edgewood attorneys have specialized.