When parties to an agreement intend it to have legal effect, that agreement is called a contract. In Ohio, 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 North Royalton
There is more to a contract than what is required for it to be valid in North Royalton. The particular terms of the contract should all be discussed separately so that the intent of each party is understood by the other. 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
Many North Royalton, Ohio Attorneys 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, especially if you proceed without the assistance of an attorney. First, parties using form contracts often do not read all the terms, and can therefore be unaware of their obligations 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. With either a negotiated contract or a form, an attorney can ensure that the written document matches the intent of each party. Attorneys in North Royalton often specialize in Ohio contract law.