When parties to an agreement intend it to have legal effect, that agreement is called a contract. In New York, contracts may be oral or written, as long as both parties have the same understanding of the terms of the agreement. In business transactions, written contracts are usually preferred for their reliability. These documents are best drafted by those who understand the law, because the very reason for a contract is to legally obligate the parties.
Negotiating a Contract in Niagara Falls
Negotiating the specific terms of a contract is crucial. There are several terms that should be included in every Niagara Falls 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
If an agreement needs a good starting point, you may want to consider a form contract. An attorney in Niagara Falls,New York can add or remove clauses according to the intent of the parties, and even the specific language can be made more comprehensible so that expectations are clear. However, form contracts can pose problems if they need to be interpreted by courts, especially if they are used without the help of an attorney. First, parties are less likely to read form contracts thoroughly, which may lead to one side being unaware of their duties under the contract. Second, using a contract that someone else has written can obligate the parties to a contract term that they do not understand. Whether you negotiate or use a form, an attorney can help ensure that the written contract matches your intent. Many Attorneys in Niagara Falls are experts in New York contract law.