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 typically 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 Lake Geneva
Negotiating the particular terms of a contract is crucial. There are several terms that should be included in every Lake Geneva contract to ensure that the agreement protects the interests of the parties. Being upfront 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
Form contracts can serve as a good starting point for a sound agreement. Lawyers in Lake Geneva, Wisconsin often keep past contracts on file, and can add or remove terms based on the situation. They can also reword the specific language of form contracts to make them more clear. If the parties attempt to use a form contract without an attorney's guidance, there may be risks. First, parties are less likely to read form contracts completely, which may lead to one side being unaware of their duties under the contract. Second, using a contract that someone else has written can obligate the parties to a contract clause that they do not understand. Whether you negotiate or use a form, an attorney can help ensure that the written contract matches your intent. Many lawyers in Lake Geneva are experts in Wisconsin contract law.