When parties to an agreement intend it to have legal effect, that agreement is called a contract. In Ohio, contracts might 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 Louisville
There is more to a contract than what is required for it to be valid in Louisville. The individual terms of the contract should all be discussed separately so that the intent of each party is understood by the other. Being upfront about your intentions early on can be helpful, because it allows the terms of the contract to be decided based on clear expectations. Lastly, a clause that determines how to handle a dispute under the contract may be worthwhile to negotiate.
Using a Form Contract
Many Louisville, Ohio lawyers use form contracts as a template for any new agreement. The attorney will add or remove contract provisions that the parties want, plus modify the specific language of the form contract to meet the parties' needs. This usually saves all parties time and money. There are risks to using a contract that neither party has written, particularly if you proceed without the advice of an attorney. First, parties using form contracts often do not read all the clauses, and can therefore be unaware of their obligations under the contract. Second, the challenging language used in the field of contracts can make agreements written by others difficult to understand. Lawyers can help ensure that a written contract matches the intent of the parties, whether negotiating a contract or using a form. Ohio contract law is a field in which many Louisville lawyers have specialized.