When parties to an agreement intend it to have legal effect, that agreement is called a contract. In New Mexico, 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 Espanola
Negotiation of each specific term in a contract is important to ensure that the intent of each party is met. Also, there are certain clauses that should be included in every Espanola contract to give it the desired legal effect. Stating your intentions clearly at the beginning of negotiations is helpful, since then the parties may carefully detail the obligations and duties of the contract based on mutual expectations. Also, you may want to negotiate a process that can be followed should one party not fulfill its end of the contract.
Using a Form Contract
Form contracts can serve as a good starting point for a sound agreement. Attorneys in Espanola, New Mexico often keep past contracts on file, and can add or remove clauses 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. With either a negotiated contract or a form, an attorney can ensure that the written document matches the intent of each party. Attorneys in Espanola often specialize in New Mexico contract law.