In Maryland, 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. Businesses most often prefer the reliability of written contracts in their transactions. These instruments are best written by those with an expertise of the law, since the intent behind a contract is to give it legal effect.
Negotiating a Contract in Owings Mills
Along with particular clauses that should be included in every Owings Mills 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. Being upfront about your intentions early on can be helpful, because it allows the terms of the contract to be decided 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
Many Owings Mills, Maryland 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. There are risks to using a contract that neither party has written, particularly if you proceed without the guidance of an attorney. First, form contracts have the tendency to go unread. Any party who does not carefully review all the contract clauses can be left unaware of their obligations under the contract. Second, form contracts will often contain language that is difficult to understand outside the legal community. This can cause disagreement over the meaning of a clause. Lawyers can help ensure that a written contract matches the intent of the parties, whether negotiating a contract or using a form. Maryland contract law is a field in which many Owings Mills Lawyers have specialized.