Contract Drafting and Review
Before entering into a contract, there should be a careful review of the terms of the contract. If a contract is being drafted, the same issues will have to be addressed before the contract is finalized. To be enforceable a contract must meet at least the following requirements:
In addition to these general rules, federal and state laws may impose more requirements on particular types of contracts. For example, certain consumer contracts must meet additional requirements, and some contracts must be in writing.
The term "contract" often refers to a written agreement, typically including some or all of the following elements introductory material (sometimes known as "recitals" or "whereas provisions"); definitions of key terms; a statement of the purpose or purposes of the agreement; the respective obligations of each party (and conditions that may trigger obligations); assurances to the contracting parties including warranties, representations, or covenants); exhibits or attachments.
It is extremely important that prior to the execution of a contract that the contract is carefully reviewed to make sure that it contains all of the provisions to make the contract clear and operational, that is legal and does not violate any statutes or regulations, and that it can be terminated upon proper notice.
Attorney | Attorneys | Lawyer | Lawyers | Law Office | Law Firm | Legal Advice | Attorney at Law
Power of Attorney | Estate Planning | Probate | Trust Administration | Termination