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 Grants
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 Grants 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
It may save you time to use a form contract instead of drafting your own. Even so, you may want an attorney in Grants, New Mexico to add or remove clauses, or to simply make the contract language more clear. There are risks in using form contracts without the help of an attorney. First, using a form contract makes it more likely that one of the parties will not have understood the terms. This can lead to them being unaware of their duties 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. With either a negotiated contract or a form, an attorney can ensure that the written document matches the intent of each party. Attorneys in Grants often specialize in New Mexico contract law.