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 Mount Laurel
Negotiating the specific terms of a contract is crucial. There are several terms that should be included in every Mount Laurel contract to ensure that the agreement protects the interests of the parties. 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
It may save you time to use a form contract instead of drafting your own. Even so, you may want an attorney in Mount Laurel, New Jersey to add or remove clauses, or to simply make the contract language more clear. If the parties attempt to use a form contract without an attorney's assistance, 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, the difficult language used in the field of contracts can make agreements written by others challenging to understand. An attorney can ensure that a written contract matches the intent of the parties, both with form contracts and in negotiations. In Mount Laurel, many Attorneys specialize in New Jersey contract law.