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 typically 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 Springville
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 Springville contract to give it the desired legal effect. Stating your intentions clearly at the start 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 Springville, New York to add or remove terms, or to simply make the contract language 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, the difficult language used in the field of contracts can make agreements written by others hard to understand. Whether you negotiate or use a form, an attorney can help ensure that the written contract matches your intent. Many attorneys in Springville are experts in New York contract law.