When you think of a “contract”, you probably think about a formal document that parties sign to demonstrate they have an agreement regarding the exchanges of goods, services, or other promises. While those formal documents are contracts, contracts can also be verbal or even written on a napkin!
To be a contract, there are three essential requirements: (1) an offer from one party to another to enter into an agreement; (2) an acceptance by the other party of the terms of that agreement; and (3) each side providing the other with “consideration” for the contract. Consideration is the benefit each party receives from the contract or whatever the person agrees not to do.
There are many reasons that a court may conclude that your contract is not valid or, alternatively, enforceable. For example, when selling land from one person to another, the statute of frauds prohibits the use of oral contracts; instead, a written contract to sell land is required. Our experienced attorneys have drafted contracts for a variety of situations and can draft the right contract for you.
The reason a person or business may need a written contract is very board. For example, you may need a:
- Contract between property owners regarding boundary or easement disputes;
- Contract between employer and employee regarding non-competition or other matters;
- Contract to enforce a personal loan, such as a promissory note;
- Contract to buy or sell your business;
- Contract to buy or sell real estate; or
- Contract to lease or rent residential property or commercial property.
If you think you need to put any type of agreement in writing for any reason, contact our legal team today.