Contracts are legally binding, so you want to make sure you have someone you can trust to draw up a contract for you. Even an honest mistake can lead to very serious problems. The team at Russell & Associates has over 10 years of experience working with clients through contract drafting and negotiations as well as contract and business disputes.
What Constitutes a Contract?
Anytime you or the company you work for agrees to take action or payment in exchange for anything of value, a legal contract has been created. A contract is a legally enforceable agreement between two or more entities or individuals. Contracts are only binding when both entities who are competent enter into the contract and there is a mutual agreement by all of the parties. Contracts generally start with an offer, then there is acceptance of that offer, and lastly, there is sufficient “consideration” to make the contract valid. A contract is important because it serves as legal protection for both parties involved in the deal.
Contracts are governed by the laws in the state where the agreement was made. The majority of contracts are controlled by the state’s common law. This is a tradition-based but constantly evolving set of laws that are mostly judge-made, from past court decisions. The Uniform Commercial Code is used for the sale of goods. This does not fall under common law. Uniform Commercial Code is a standardized collection of guidelines that govern the law of commercial transactions.
Our team is here to help with all of your Contract Law needs including:
- Fixed Price Contracts
- Cost-Reimbursement Contracts
- Lump Sum Contracts
- Time & Material Contracts
- Bilateral Contracts
- Unilateral Contracts
- Implied Contracts
- Express Contracts
- Simple Contracts
- Adhesion Contracts
- Aleatory Contracts
- Contracts Under Seal
- and more…