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 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 Mendota Heights
Along with particular clauses that should be included in every Mendota Heights 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. 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
Using a form contract as a baseline for your agreement may save you time. Lawyers practicing Minnesota law in Mendota Heights can be helpful in selecting the right form, and can also revise the contract to make it the best fit for your particular situation. If the parties attempt to use a form contract without an attorney's guidance, there may be risks. First, using a form contract makes it more likely that one of the parties will not have understood the clauses. This can lead to them being unaware of their duties under the contract. Second, the challenging language used in the field of contracts can make agreements written by others hard to understand. An attorney can ensure that a written contract matches the intent of the parties, both with form contracts and in negotiations. In Mendota Heights, many lawyers specialize in Minnesota contract law.