In Minnesota, 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 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 Arden Hills
Along with particular clauses that should be included in every Arden Hills 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. Stating your intentions clearly at the outset of negotiations is helpful, since then the parties may carefully detail the obligations and duties of the contract based on mutual expectations. Also, you may want to negotiate a process that can be followed should one party not fulfill its end of the contract.
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 Arden Hills, Minnesota to add or remove provisions, or to simply make the contract language more clear. There are risks in using form contracts without the advice of an attorney. First, a party using a form contract may not have completely read all the terms, and can thereby remain unaware of his performance obligations and liabilities if events do not go as planned. Second, the challenging 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 Lawyers in Arden Hills are experts in Minnesota contract law.