In Michigan, 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. In business transactions, written contracts are typically preferred for their reliability. These documents are best drafted by those who understand the law, because the very reason for a contract is to legally obligate the parties.
Negotiating a Contract in Huntington Woods
Negotiating the specific terms of a contract is crucial. There are several terms that should be included in every Huntington Woods contract to ensure that the agreement protects the interests of the parties. 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
It may save you time to use a form contract instead of drafting your own. Even so, you may want an attorney in Huntington Woods, Michigan to add or remove terms, or to simply make the contract language more clear. Using a form contract without the help of an attorney may pose problems. First, parties are less likely to read form contracts thoroughly, which may lead to one side being unaware of their duties 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. With either a negotiated contract or a form, an attorney can ensure that the written document matches the intent of each party. Attorneys in Huntington Woods often specialize in Michigan contract law.