The vast majority of business and commerce throughout the world is based upon written contracts between different parties. Contracts allow people and businesses to enter into legally enforceable agreements governing their relationship with each other. Contracts are essentially a set of promises to which the parties mutually agree. If either party to a contract breaks one of these promises, the law or the contract itself provides guidelines as to how to handle such a situation. Disputes arise when someone does not hold up their end of a contract. Most frequently, disputes arise when one party fails to pay the other or deliver the goods or services in the manner agreed upon in the contract.
The law surrounding contract validity and enforceability is complex and subject to many restrictions. When drafting or entering into any type of contract, it is a good idea to consult with an experienced business attorney for advice.
In order to form a contract, there must be an offer, an acceptance of the offer, and consideration. Consideration, in legal terms, means something of value.
Contracts govern many of the activities that we engage in in our day-to-day lives. Contracts are not limited to the business world; they also govern sporting events, retail sales, real estate transactions, marriage, adoption, leases, transportation and online contracts (terms and conditions), among other things.
Contract law assumes that the parties entering into a contract do so at "arm's length." An arms-length agreement means that the parties maintain equal bargaining power. In California, every contract contains an implied covenant of good faith and fair dealing. This means that the law assumes that the parties are entering into the contract with the expectation and intention to treat the other party fairly; the law does not presume that one party intends to cheat or defraud the other party.
In a business setting, contracts, among other things, are used to create and dissolve relationships. Contracts are an essential component to nearly all business relationships and transactions and it is vital to a successful and efficiently managed business that your contracts be professionally drafted and/or reviewed by an experienced attorney.
Rely on the Conejo Valley Law Group for Your Contract Issues
Poorly drafted contracts can create great hardships the the event that a dispute arises. Contracts that are awkwardly worded or unclear may be difficult to interpret and lead to unnecessary business and legal disputes between the parties involved. In a business setting (as well as in your personal dealings), it is imperative that the contracts involved are clearly written and easy to understand.
However, even the most tightly written contracts can result in a dispute or disagreement. It is impossible for anyone to predict all potential issues that may arise in an agreement between two or more parties. Therefore, it is essential for an attorney to review the terms of your contract before you sign. If a dispute does arise, a lawyer with vast experience in contracts can help resolve the disagreement.
Based upon his years of experience, Jeff is skilled at drafting, reviewing and negotiating contracts in virtually any business setting. His experience as an entrepreneur and business owner gives him a unique understanding of the importance of a well-written contract. He is familiar with many of the issues that arise in small businesses and can draft a contract that will protect you from liability and minimize future disputes. Should a conflict arise, he will negotiate tirelessly on your behalf to attain the best outcome for your business. Contact Jeff today for assistance in contract review, drafting and negotiation.