A contract in Virginia is an agreement made by parties that intend their agreement to have legal effect. As long as parties to a contract have the same understanding about the contractual terms, the contract may either be written or entirely oral. 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 Danville
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 Danville contract to give it the desired legal effect. 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
Many Danville, Virginia 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 in using form contracts without the assistance of an attorney. First, parties are less likely to read form contracts thoroughly, which may lead to one side being unaware of their duties under the contract. Second, the difficult language used in the field of contracts can make agreements written by others difficult to understand. Attorneys can help ensure that a written contract matches the intent of the parties, whether negotiating a contract or using a form. Virginia contract law is a field in which many Danville attorneys have specialized.