Written contracts are one way that you can ensure both you and the other party involved have the opportunity to understand what your agreement includes. It can also protect you if the other party decides to act against what you had both decided. Unfortunately, many people in the Farmington Hills, Michigan area discover that their contract is useless and holds no legal weight because it was written wrong. Before you sign on the dotted line, it’s important to follow these steps to ensure your contract will actually be enforceable.
The contract must be concise
Drafting a contract is a big responsibility and one that involves a lot of precision. Contracts need to be concise and clear while also presenting all the details. For instance, if you are laying out a contract that states a payment plan for a building you are selling on land contract, you will need to explain where the building is located, how much payments will be each month, how long payments will last, and when the payment is due. Even the smallest discrepancy can make the entire contract invalid.
The contract needs to be in writing
A judge will not be able to enforce a contract that is simply verbal. When you make an agreement with someone, you need to ensure that the details are all laid out in writing. If you are unsure about the right way to lay out your contract, Brown Borkowski & Morrow can help you find the proper format for your agreement.
The contract must be legal
Understandably, the terms of the contract must be legal for it to be withheld in court. You can’t lay out any terms that go against the law. If you are choosing to do something such as selling or buying illegal substances, cheating someone else, or stealing, then the contract will hold no weight in court and may actually put you in a position to be convicted.
The other party must be able to consent
The other person signing the document must be of sound capacity when they are signing the contract. Even if you have the best-written document in the world, if it is signed by someone who is under the influence of alcohol or drugs, a minor, or someone with a mental disorder, then the document may not hold up in court.
A valid contract is obviously more than just scribbling something down on a scrap paper and hoping it will hold up in court. By following the tips listed above, you can ensure that your contract will be legally binding. Working directly with an attorney is one of the best ways to guarantee that your contract will hold up in court and ensure everyone sticks to their part of the bargain.