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. Businesses most often prefer the reliability of written contracts in their transactions. These instruments are best written by those with an understanding of the law, since the intent behind a contract is to give it legal effect.
Negotiating a Contract in Lindenwold
Negotiating the specific terms of a contract is crucial. There are several terms that should be included in every Lindenwold contract to ensure that the agreement protects the interests of the parties. Being forthright about your intentions early on can be helpful, because it allows the terms of the contract to be determined 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. Attorneys practicing New Jersey law in Lindenwold can be helpful in selecting the right form, and can also revise the contract to make it the best fit for your particular situation. However, form contracts can pose problems if they need to be interpreted by courts, especially if they are used 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, 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 Lindenwold, many attorneys specialize in New Jersey contract law.