Creating A Simple and Legally Valid Contract
Contracts filled with legal jargon can be intimidating for most. Some contracts can be dense, long, and overwhelming and some can be short and to the point. In reality, we deal with contracts frequently in our daily lives. Think about how many times you ‘agree to terms and services’ when signing up for a new streaming service or newsletter? Or sign a lease on a house or car? In our modern-day world, contracts are integral to our society. Based on the nature of an agreement, a contract can take many different shapes. So, in order to best understand the valid contract, it’s paramount for us to know the basic workings.
A contract should always clearly define all parties involved. In addition, the subject of the exchange and all provisions that define the validity of the contract should be stated. A contract should also have a clear indication of termination. Contracts are often created through writing due to legality, but agreements to exchanges can be made orally as well.
Once a contract is completed, both parties involved have to agree to all terms. Without acceptance from both parties involved, the contract remains invalid. This can get messy when one party does not agree to the terms and in response, wants to negotiate. An offer has a specific amount of time where negotiations can take place: parties are allowed to change their mind or revoke the said offer.
In order to create a contract that is legally viable, make sure you know what is required by your state. To make sure your contracts are legally viable, make sure you consult an attorney. With the help of an experienced law firm, you will only get the best results.