Contract Formation – What to Consider and How to Get Started

In order to reduce the potential for conflict, contracts provide clear and binding terms. The enforcement of a written contract is far easier than an oral agreement, especially when it outlines the parties’ rights and responsibilities clearly.

In contrast to law firms that only draft legal documents, Hamlin | Cody does more than that. Our firm has years of experience litigating business contracts and leases that someone else drafted. Thus, we have learned quite a few valuable lessons that will help us serve you better.

Contracts are agreements between two parties that bind them to perform (or not perform) some specific actions. It is imperative to use well-drafted contracts to build strong business relationships. When everyone is clear on the parties’ goals and their duties and obligations to each other are well-defined and laid out precisely, parties are less likely to run into problems latter. A well-written contract that outlines expectations and protects your legal interests is paramount to a successful transaction and good business relations.

Be Clear, Not Vague

The advantages of informal agreements may seem appealing, but the consequences are not worth it. Failing to expressly define the parties’ agreed upon terms risks exposure, liability, damages and business losses. A thoroughly negotiated and well-drafted contract can prevent misunderstandings that lead to all of that.

Uncertainty and misinformation can result in conflicts and expensive lawsuits. There are many ways to avoid that. It is crucial to be clear. Avoid confusing and vague language. Use plain English. A great deal of conflict can be avoided by being specific and reciting the parties’ understanding and background facts that set forth the purpose of the parties’ agreement.

Experienced attorneys can assist clients with this process.The key to success is to be on the same page!

Does Your Organization Stand a Good Chance of Benefiting from Uniform Contracts?

When you offer the same goods and services regularly to the same type of clients, a standardized form contract may be a good fit for you. The main advantage of standardized form contracts is that they allow companies to handle clients more efficiently. This can be particularly applicable to companies that deal regularly with a high volume of sales. Form contracts allow a businesses to dedicate more time to their service and less time to writing lengthy individual contracts. By having a ready-to-sign contract, a transaction can be legally sealed without having to start from scratch in each individual transaction.

The Importance of Counsel

Counsel can tailor contracts to the needs of the parties, which is why their role is so critical. No matter the parties’ interests, Hamlin | Cody is particularly skillful at tailoring contracts to individual circumstances. An experienced contract lawyer will carefully review all aspects of your agreement. Whether you want a new contract or an older one evaluated, your lawyer should thoroughly review and assess the facts and explain to you all the key points for consideration. The right lawyer can help you with your business endeavors, from understanding the contracts you’ll need, to enforcing those contracts for you.

Deal Makers, Not Deal Breakers

You can count on us to help you with whatever transaction you’re working on. At Hamlin Cody, we have you covered. Let us help you strategize, negotiate, and attain your goals with a strong contract. Contracts should be written in plain English and disclose the facts, terms and conditions that both parties understand to eliminate the risk of future disputes. It is common for businesses to face contract disputes and various issues. Your business can still continue despite these obstacles. Our attorneys at Hamlin Cody will ensure your contract is well written and provides all of the protections that your company needs.

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