What is a Contract?

Find the right Contract Drafting attorney in Paterson, NJ

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 Paterson

Negotiating the specific terms of a contract is crucial. There are several terms that should be included in every Paterson 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

Using a form contract as a baseline for your agreement may save you time. Attorneys practicing New Jersey law in Paterson 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 help, there may be risks. First, form contracts have the tendency to go unread. Any party who does not carefully review all the contract terms can be left unaware of their obligations under the contract. Second, form contracts often contain language that is specific to the field of law, and using forms without an understanding of this language can cause future disagreements over a contract's meaning. Whether you negotiate or use a form, an attorney can help ensure that the written contract matches your intent. Many attorneys in Paterson are experts in New Jersey contract law.

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Life in Paterson

Paterson, New Jersey is the county seat of Passaic County. It has a population of about 147,000 people, making it the third largest city in New Jersey.

Paterson, NJ became known as the "silk city" in the late 19th Century, due to its dominance in the silk-production industry. Paterson, NJ became a major center for other industries in the 20th century, thanks in large part to the presence of the Great Falls, a large waterfall on the Passaic River, which provided much of the energy needed for factories and other heavy industries in Paterson, NJ.

Modernly, Great Falls, NJ is part of an Urban Enterprise Zone, which is a designation under New Jersey Law that stimulates economic growth in areas where it's needed, through reduced sales tax, a fast-track process for obtaining business licenses, and financial incentives, such as tax credits, for businesses that hire new workers. Many Paterson, NJ lawyers were involved in drafting these rules, as well as getting portions of Paterson, NJ designated as such.

Paterson is known for being the residence of Paterson, NJ lawyer Edward Masry, who led the lawsuit against PGE, which was dramatized in the film "Erin Brockovich."

There are many other Paterson, NJ lawyers who can help you with whatever legal issue you may be facing. If you believe that you might need legal representation, there's a very good chance that a Paterson, NJ lawyer can help you.

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