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 generally 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 Pontiac
Negotiating the specific terms of a contract is crucial. There are several terms that should be included in every Pontiac contract to ensure that the agreement protects the interests of the parties. Being forthright about your intentions can help the contract goal of mutual understanding of expectations. To conclude negotiations, you may want to include a clause that determines what is to be done if a party fails to meet its duty.
Using a Form Contract
If an agreement needs a good starting point, you may want to consider a form contract. An attorney in Pontiac,Michigan can add or remove provisions according to the intent of the parties, and even the specific language can be made more comprehensible so that expectations are clear. If the parties attempt to use a form contract without an attorney's help, there may be risks. First, using a form contract makes it more likely that one of the parties will not have understood the terms. This can lead to them being unaware of their duties under the contract. Second, the difficult language used in the field of contracts can make agreements written by others difficult to understand. Whether you negotiate or use a form, an attorney can help ensure that the written contract matches your intent. Many attorneys in Pontiac are experts in Michigan contract law.