Making a Simple and Legally Valid Contract
Most often, when you think of a contract you imagine the really dense and long contracts that make no sense in English. In reality, you frequently make contracts and agreements – and not all of them are filled with legal jargon. For example, a contract can be agreeing to the (truly long and at times confusing) terms and conditions of a streaming service or a contract can be between two friends who agree to exchange things of value.
What does a contract look like?
A contract can take many different shapes depending on the nature of the agreement. However, there are some basics. The contract should provide solid and clear definitions of the parties to the contract, what is being exchanged, and all provisions for while the contract is valid and for its termination. An agreement to exchange things can be made orally between parties or it can be made in writing. Although, there are some instances when the contract has to be written out for it to be held legally valid. If you are unsure of what is required in California, consult with a lawyer to find out more.
More basics on contracts
This part may seem obvious, but it actually leads to quite a bit of conflict. For a contract to be valid, the parties have to agree to the terms and accept them. This is easy when someone writes up a contract and the other person signs it and has no reservations. However, what happens if you end up in negotiations? An offer is to be valid for a reasonable time and, during that time, the other party is allowed to change their mind and the person who made the offer can also choose to revoke it. This article has only provided some brief points about the very basics of contracts. When writing a contract or agreeing to one, consult with an experienced attorney to ensure the contract is valid and in your best interests.