A contract in Wisconsin 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 might either be written or entirely oral. A written contract is generally preferred by most businesses, because that make the agreements more reliable. Contracts may involve legal principles, so they are best formed with a clear understanding of the law.
Negotiating a Contract in Fox Point
Negotiating the particular terms of a contract is crucial. There are several terms that should be included in every Fox Point contract to ensure that the agreement protects the interests of the parties. The terms of the contract may be decided based on clear expectations if both parties are upfront 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. Lawyers practicing Wisconsin law in Fox Point 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 advice, there may be risks. First, form contracts have the tendency to go unread. Any party who does not carefully review all the contract clauses can be left unaware of their obligations under the contract. Second, form contracts often contain language that is particular to the field of law, and using forms without an understanding of this language can cause future disagreements over a contract's meaning. Lawyers can help ensure that a written contract matches the intent of the parties, whether negotiating a contract or using a form. Wisconsin contract law is a field in which many Fox Point lawyers have specialized.