When parties to an agreement intend it to have legal effect, that agreement is called a contract. In North Carolina, contracts may be oral or written, as long as both parties have the same understanding of the terms of the agreement. A written contract is generally preferred by most businesses, because that make the agreements more reliable. Contracts may involve legal principles, so they are best formed with a clear understanding of the law.
Negotiating a Contract in Raeford
Negotiating the specific terms of a contract is crucial. There are several terms that should be included in every Raeford contract to ensure that the agreement protects the interests of the parties. 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 North Carolina law in Raeford can be helpful in selecting the right form, and can also revise the contract to make it the best fit for your individual situation. If the parties attempt to use a form contract without an attorney's help, there may be risks. First, parties using form contracts often do not read all the terms, and can therefore be unaware of their obligations under the contract. Second, using a contract that someone else has written can obligate the parties to a contract term that they do not understand. Whether you decide to negotiate a contract or use a form contract, an attorney will be able to help you ensure that the written instrument matches your intent. Many lawyers practicing in Raeford are experts of North Carolina contract law.