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 generally 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 Rochester
Negotiating the specific terms of a contract is crucial. There are several terms that should be included in every Rochester contract to ensure that the agreement protects the interests of the parties. Being forthright about your intentions can help the contract goal of mutual understanding of expectations. To conclude negotiations, you may want to include a clause that determines what is to be done if a party fails to meet its duty.
Using a Form Contract
Form contracts can serve as a good starting point for a sound agreement. Attorneys in Rochester, New York often keep past contracts on file, and can add or remove provisions based on the situation. They can also reword the specific language of form contracts to make them more clear. There are risks in using form contracts without the assistance of an attorney. First, a party using a form contract may not have thoroughly read all the terms, and can thereby remain unaware of his performance obligations and liabilities if events do not go as planned. 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 Rochester often specialize in New York contract law.