In Ohio, a contract is different from a normal agreement in that the parties to a contract intend their agreement to have legal effect. Contracts may be oral or written, as long as both parties have the same understanding of the terms of the agreement. Most businesses want to solidify their agreements in writing so that they can rely on them in the future. Since many legal principles may be involved, drafting a contract works best when done with as much knowledge of the law as possible.
Negotiating a Contract in Toronto
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 Toronto contract to give it the desired legal effect. 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
Using a form contract as a baseline for your agreement may save you time. Attorneys practicing Ohio law in Toronto can be helpful in selecting the right form, and can also revise the contract to make it the best fit for your individual situation. If the parties attempt to use a form contract without an attorney's help, there may be risks. First, parties using form contracts often do not read all the terms, and can therefore be unaware of their obligations under the contract. Second, the difficult language used in the field of contracts can make agreements written by others difficult to understand. An attorney can ensure that a written contract matches the intent of the parties, both with form contracts and in negotiations. In Toronto, many attorneys specialize in Ohio contract law.