Contracts: What Should Be Included?
When you have a contract drafted, you need to make sure that it is done properly to ensure that your contract is enforceable. Hiring business lawyers in Utah is a good idea to make sure that your contract is drafted correctly.
Being bound by a contract is a responsibility that you should fully understand. Hiring a lawyer to assist you with a contract can help ensure that the contractual agreement you are getting into is in your best interests.
Understanding What a Contract Is
A contract is any written agreement in which one party presents an offer, and another party agrees to the offer by signing the contract. A contract typically involves an exchange of value that is carried out under certain terms that are detailed in writing.
Not all contracts have to be in writing. However, putting a contract in writing is always the best policy because a written contract provides a record of the terms and details of the agreement that can be consulted later.
If you have questions about what constitutes a contract and how a contract should be drafted, you can hire a legal professional experienced in Utah contract law formation of a contract.
The Enforceable Contract
It is important to create an enforceable contract that will not be easy to refute in a court of law in the future. To make a contract enforceable, the signers of the contract must be clearly identifiable. It is also important to explain the agreement in clear, indisputable language.
Another key goal when drafting a contract in Utah is ensuring that none of the terms of the contract violated state law. If contract terms violate the law in some way, the contract may be considered unenforceable.
Three key factors that determine whether a contract is enforceable are consideration, capacity to contract, and lack of undue influence.
Consideration
Consideration refers to the exchange of value between the parties that sign the contract. Contracts require consideration from both parties so that they can be considered enforceable. While courts do not usually judge a contract based on how fair the terms of consideration are for any parties involved, it is worth noting that a contract may be voided if some aspect of the consideration is later determined to be “unconscionable.”
Capacity to Contract
All signers on a contract need to be determined to have had the capacity to contract at the time the contract was signed. This means that all signers must have had the mental ability to understand the agreement they were getting into when signing the contract. The signer of a contract must also have attained the legal age at the time the contract was signed to be considered to have the capacity to contract.
Undue Influence
A contract can be voided if it is determined that one of the parties did not sign the contract of their own free will. For example, a contract can be voided if it is determined that one of the signers was under duress and was forced to sign the contract.
A contract can also be voided if there was misrepresentation when the contract was signed. Misrepresentation could involve one party making a false statement to the other or withholding key information regarding the contract agreement from the other party.
Hiring Business Lawyers in Utah for Assistance With Contracts
If you are looking for a Provo attorney to assist you with a contract in Utah, we can come to your assistance at Howard, Lewis & Petersen, P.C. Contact us today to learn more about our contract services.
