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 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 Maysville
There is more to a contract than what is required for it to be valid in Maysville. The individual terms of the contract should all be discussed separately so that the intent of each party is understood by the other. Being forthright about your intentions early on can be helpful, because it allows the terms of the contract to be determined based on clear expectations. Lastly, a clause that determines how to handle a dispute under the contract may be worthwhile to negotiate.
Using a Form Contract
Using a form contract as a baseline for your agreement may save you time. Attorneys practicing Kentucky law in Maysville can be helpful in selecting the right form, and can also revise the contract to make it the best fit for your individual situation. However, form contracts can pose problems if they need to be interpreted by courts, especially if they are used without the help of an attorney. 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, using a contract that someone else has written can obligate the parties to a contract term that they do not understand. With either a negotiated contract or a form, an attorney can ensure that the written document matches the intent of each party. Attorneys in Maysville often specialize in Kentucky contract law.