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 Trenton
Negotiating the specific terms of a contract is crucial. There are several terms that should be included in every Trenton 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
Using a form contract as a baseline for your agreement may save you time. Attorneys practicing Michigan law in Trenton can be helpful in selecting the right form, and can also revise the contract to make it the best fit for your particular situation. There are risks in using form contracts without the assistance 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, the difficult language used in the field of contracts can make agreements written by others hard to understand. Attorneys can help ensure that a written contract matches the intent of the parties, whether negotiating a contract or using a form. Michigan contract law is a field in which many Trenton attorneys have specialized.