In Michigan, 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. In business transactions, written contracts are usually 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 Sault Ste. Marie
Negotiating the particular terms of a contract is crucial. There are several terms that should be included in every Sault Ste. Marie contract to ensure that the agreement protects the interests of the parties. Being upfront 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
Form contracts can serve as a good starting point for a sound agreement. Lawyers in Sault Ste. Marie, Michigan often keep past contracts on file, and can add or remove clauses based on the situation. They can also reword the specific language of form contracts to make them more clear. If the parties attempt to use a form contract without an attorney's advice, there may be risks. First, parties are less likely to read form contracts completely, which may lead to one side being unaware of their duties 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. With either a negotiated contract or a form, an attorney can ensure that the written document matches the intent of each party. Lawyers in Sault Ste. Marie often specialize in Michigan contract law.