In Minnesota, 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 Mound

Along with specific clauses that should be included in every Mound 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 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 Minnesota law in Mound 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 help of an attorney. First, form contracts have the tendency to go unread. Any party who does not carefully review all the contract terms can be left unaware of their obligations under the contract. Second, form contracts often use words and language understood only within the legal community. This may cause parties to agree to a term they don't really understand. An attorney can ensure that a written contract matches the intent of the parties, both with form contracts and in negotiations. In Mound, many attorneys specialize in Minnesota contract law.