When parties to an agreement intend it to have legal effect, that agreement is called a contract. In New Jersey, 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 Carlstadt
Along with certain clauses that should be included in every Carlstadt 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
Form contracts can serve as a good starting point for a sound agreement. Attorneys in Carlstadt, New Jersey often keep past contracts on file, and can add or remove provisions based on the situation. They can also reword the specific language of form contracts to make them more clear. There are risks to using a contract that neither party has written, especially if you proceed without the assistance of an attorney. First, parties using form contracts often do not read all the terms, and can therefore be 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. Attorneys can help ensure that a written contract matches the intent of the parties, whether negotiating a contract or using a form. New Jersey contract law is a field in which many Carlstadt Attorneys have specialized.