In Kentucky, 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. The reliability of written contracts generally 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 Frankfort
There is more to a contract than what is required for it to be valid in Frankfort. The individual 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 outset 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
Using a form contract as a baseline for your agreement may save you time. Lawyers practicing Kentucky law in Frankfort can be helpful in selecting the right form, and can also revise the contract to make it the best fit for your individual situation. Using a form contract without the guidance of an attorney may pose problems. First, parties using form contracts often do not read all the clauses, and can therefore be unaware of their obligations under the contract. Second, the challenging language used in the field of contracts can make agreements written by others difficult to understand. An attorney can ensure that a written contract matches the intent of the parties, both with form contracts and in negotiations. In Frankfort, many Lawyers specialize in Kentucky contract law.