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 Horn Lake
There is more to a contract than what is required for it to be valid in Horn Lake. The individual 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
If an agreement needs a good starting point, you may want to consider a form contract. An attorney in Horn Lake,Mississippi can add or remove provisions according to the intent of the parties, and even the specific language can be made more comprehensible so that expectations are clear. However, form contracts can pose problems if they need to be interpreted by courts, especially if they are used without the help 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, using a contract that someone else has written can obligate the parties to a contract term that they do not understand. An attorney can ensure that a written contract matches the intent of the parties, both with form contracts and in negotiations. In Horn Lake, many attorneys specialize in Mississippi contract law.