A document can be considered a contract, even if it is one that is simply signed through the normal course of business. If they are held legally binding, purchase orders, receipts, sales agreements and others are properly classified as contracts.. As a legally binding agreement, a contract must be fully understood in order for its legal consequences to be appreciated. Not expecting a contract's enforcement is typically no excuse under the law.
How Can I Ensure a Contract is Good?
Obviously, reading anything before you sign it is the first step. But as you read it, pay careful attention to the terms of an agreement that outline your responsibilities and duties. If the document is too lengthy for a worthwhile read, or it is so commonplace that reading it is not practical, there are still other ways you can effectively review it. Whether they are routine documents or negotiated agreements, an attorney in Farmington, New Mexico can review any contract before you sign it. In reviewing a contract, a lawyer will ensure that your intent is what shows up in the written document.
What if I Don't Understand a Contract in New Mexico?
The words of a contract are meant to simply express an agreement between two parties. They are not the agreement itself. It is your understanding of the contract that typically matters most, regardless of cumbersome contract language. Since it's your understanding that matters, relying on the other party's explanation of the contract terms may lead to problems. In Farmington, you can find a neutral third party that is qualified to review and explain the contract. Negotiations in some specific fields, such as finance, can require unique expertise; but no matter how complicated the situation, the objective of contract law in New Mexico is to give legal effect to the intent of the parties involved.