When parties to an agreement intend it to have legal effect, that agreement is called a contract. In Mississippi, contracts may be oral or written, as long as both parties have the same understanding of the terms of the agreement. Most businesses want to solidify their agreements in writing so that they can rely on them in the future. Since many legal principles may be involved, drafting a contract works best when done with as much knowledge of the law as possible.
Negotiating a Contract in Grenada
There is more to a contract than what is required for it to be valid in Grenada. The particular terms of the contract should all be discussed separately so that the intent of each party is understood by the other. The terms of the contract may be determined based on clear expectations if both parties are forthright about their intentions early on. Also, parties may want to discuss whether they need a provision for resolving any disputes under the contract.
Using a Form Contract
Many Grenada, Mississippi attorneys use form contracts as a template for any new agreement. The attorney will add or remove contract provisions that the parties want, plus modify the specific language of the form contract to meet the parties' needs. This usually saves all parties time and money. There are risks to using a contract that neither party has written, especially if you proceed without the assistance 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 will often contain language that is difficult to understand outside the legal community. This can cause disagreement over the meaning of a term. Attorneys can help ensure that a written contract matches the intent of the parties, whether negotiating a contract or using a form. Mississippi contract law is a field in which many Grenada attorneys have specialized.