Find Contracts Attorney By Laura Evans
Are you thinking about writing or signing a contract? You might want to consult a contracts attorney before signing any agreement in order to make sure that you have all of your bases covered, and that the contract actually covers what you think it does. A contract, or a legally binding agreement between two or more parties, does not need to be written in order to be valid; a verbal contract can also be binding. A contracts attorney would probably advise you to get everything in writing and signed to prevent any future disagreements about the terms of the contract.
The Role of a Contracts Attorney
Contracts attorneys will tell you that, in order for a contract to be legally binding, it must meet some requirements. First, the parties, including the person or persons signing for a corporation, must be competent adults; minors can sign contracts with parental consent. A contract must have consideration. The term “consideration” means that both parties agree to give up something in exchange for gaining something. For example, the consideration in a contract between the seller of a home and a buyer for the home would be that the seller gives up ownership of the house to the buyer once the buyer relinquishes money to the seller.
A contracts attorney will help you make sure that your contract has mutual assent. Mutual assent means that each party understands what the requirements of the contract are. A contract must also have mutual right to remedy, which means that all of the parties who signed the contract have an equal right to remedy the contract should one of the parties break a requirement of the contract. Another requirement is that the contract should cover the proper subject matter. In other words, the agreement that the contract covers must be legal in order to be enforceable.
Accepting a Contract
A contract can be accepted in three different ways: express, implied, or conditional, also called “subject to.” Express acceptance means that a contract has been agreed upon, either verbally or in writing. Implied acceptance covers those instances when all the parties involved in the contract start to work on the terms of the agreement, even if the contract has not been formally signed. Conditional acceptance is when parties agree to complete the contract subject to another requirement. For example, a conditional contract would be an agreement that a writer be paid a fee, subject to the project being completed within a week.
Contract law is very complicated. It is important for you to consult a contracts attorney for more specific information regarding the terms and acceptance of contracts. A good contracts attorney can help prevent you from making costly mistakes. And, should your contract be breached or broken, your contract lawyer can help you seek a remedy through the legal system.
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