When parties to an agreement intend it to have legal effect, that agreement is called a contract. In New Jersey, contracts might be oral or written, as long as both parties have the same understanding of the terms of the agreement. Businesses most often prefer the reliability of written contracts in their transactions. These instruments are best written by those with an expertise of the law, since the intent behind a contract is to give it legal effect.
Negotiating a Contract in Holmdel
Negotiating the particular terms of a contract is crucial. There are several terms that should be included in every Holmdel contract to ensure that the agreement protects the interests of the parties. Being upfront about your intentions early on can be helpful, because it allows the terms of the contract to be decided based on clear expectations. Lastly, a clause that determines how to handle a dispute under the contract may be worthwhile to negotiate.
Using a Form Contract
Using a form contract as a baseline for your agreement may save you time. Lawyers practicing New Jersey law in Holmdel can be helpful in selecting the right form, and can also revise the contract to make it the best fit for your distinct situation. If the parties attempt to use a form contract without an attorney's advice, there may be risks. First, using a form contract makes it more likely that one of the parties will not have understood the clauses. This can lead to them being unaware of their duties under the contract. Second, form contracts often contain language that is particular to the field of law, and using forms without an understanding of this language can cause future disagreements over a contract's meaning. With either a negotiated contract or a form, an attorney can ensure that the written document matches the intent of each party. Lawyers in Holmdel often specialize in New Jersey contract law.