My practice is primarily a litigation practice, but I do often have to draft contracts for businesses. I frequently draft licensing agreements, copyright and trademark rights, and general business contracts of all types. Every contract is unique.
Is There Anything That Must Be Present In Every Contract?
Every contract must identify the parties and state, in clear and definite terms, what the parties’ obligations are. There must be a consideration or the bargain for exchange, in the contract. It is common to have provisions for attorney’s fees and dispute resolution, but those are not required.
Do All Contracts Need To Be In Writing To Be Valid?
A contract is generally not required to be in writing to be legally valid. Oral agreements can be valid contracts, but the Statute of Frauds does state that certain types of contracts need to be in writing to be enforceable. For example, you cannot have an oral agreement to buy or sell real estate. There is a list of things that have to be in writing. The best practice is certainly to have a written agreement, but a proven oral contract can be enforced.
When Drafting An International Contract, What Must Additionally Be Included In Every Contract?
Usually, in international contracts, the main issue is the jurisdiction where disputes would be resolved. This is covered by the United Nations Convention On Contracts for The International Sale of Goods. When you are dealing with the sale of goods in an international contract, you can put a provision in the contract that any disputes are going to be governed by this multilateral treaty, which is referred to as CISG. If you opt to have that provision in your contract, it will replace the uniformed commercial code that ordinarily deals with the sale of goods.
What Are Common Issues That Come Up When A Contract Has Been Put Together Poorly?
A case comes down to the ability to prove a breach of contract. If the contract is vague, there is a law that states that any ambiguity in a contract will be construed against the party who drafted the contract. It is important to make sure that when you have a written contract, you have terms that are definite and certain. Other issues that come up is whether or not there are certain conditions in a contract. A condition is something that has to happen before a party is obligated to perform. For example, a contract could state that one party will paint another party’s house for $1,000 on a particular date, unless it rains. If it rains, the party is not obligated to perform.
Does Your Firm Fix Contracts Prepared By Someone Else?
Generally speaking, my firm does not attempt to correct a contract prepared by someone else. If anything, we are involved in litigation. If the parties cannot agree to mutually rescind the contract, we file what is called a Declaratory Relief Lawsuit to have the court determine if there is a valid contract and if there are any conditions that exist.
Do I Need An Attorney To Draft All My Business Contracts?
If you use a certain type of contract frequently, I recommend consulting an attorney to draft a template contract that has all the terms and conditions. Then, you may simply change the name of the parties to the contract. It is a good idea to hire an attorney to draft new business contracts because there are so many things that can go wrong if it is not properly drafted.
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