Why is a Contract Needed in the United States?
Contracts are vital for doing business in America for all types of companies big or small or individuals. In days past, a simple handshake and person’s word was enough.
If issues came up though, there mostly was no fair way to solve it. Today, when problems between the parties arise, they can take the issue to court, and a judge or jury will hear the case even if the contract was not put into writing. These days, however, contracts have become increasingly comprehensive and complex and very hard to understand.
This is why our attorneys make all possibilities and outcomes very clear from the start.
What is a Contract?
A contract is a legal agreement that identifies and dictates the rights and obligations of the individuals or entities to the agreement. A contract is enforceable through the courts because the requirements of the law have been met and thus the courts will recognize the facts of the case in a specific way. A contract usually includes the exchange of goods, services, money, or promises of something.
If you have contractual needs or a contract that you want a legal professional to analyze then calling us today is a smart business move. Let our lawyers go over the small print to ensure your rights are protected.
What Makes a Contract?
A contract is crucial for business dealings because it is binding on the people involved. If one party fails its end of the deal, the other side has legal cures for any damages. There are basic necessities for a contract to be enforceable by a court whether it is written or oral.
For example, each party has to promise something of value to the other in exchange for something. There also has to be an offer and acceptance of that offer. The contract must not violate the law. The parties must be of sound mind or what is called capacity.
To be considered capable of making a contract, the parties must comprehend what the contract entails. For example, individuals with a severe mental illness generally are not allowed to form or enter into contracts. In some cases, minors also cannot enter into or form contracts. It depends on the situation. Moreover, federal and state laws may impose other requirements on certain contracts such as contracts that extend across state lines.
Doing business in the United States requires you to hire a law firm with a highly successful team of lawyers who understand the intricacies of contract law.
If you are thinking about doing business in the USA or already are, then you need to contact us right away to protect your rights and bottom line.