Business contracts may be difficult to create and difficult to understand–unless you have the right business lawyer advising you. If you deal with business contracts in New York, you should have the advice and services of a New York business contract lawyer.
A skilled business lawyer can review your contracts to warn you about any terms or provisions that aren’t in your long-term best interests. Your attorney can also draft your own contracts–employment contracts, for example–that are enforceable and meet your business needs.
What Are the Basics of a Business Contract?
Every contract is different, but generally speaking, almost every business contract includes these six elements:
1. An offer is always the first step in creating a contract. For instance, Universal Widgets offers Jane Doe six hundred dollars per week to assemble widgets.
2. An offer has to be accepted by each side before any contract exists. Without acceptance by both parties, there is no contract.
3. A “consideration” is what each party offers the other in the contract. Universal Widgets offers six hundred dollars per week as consideration, and Jane Doe, in return, offers forty hours a week of assembling widgets as consideration.
4. For a contract to be valid legally, it has to be created for a purpose that is legal, and it must comply with the law. Universal Widgets may hire Jane Doe to assemble widgets, but Universal Widgets may not employ her to steal a competitor’s trade secrets.
5. An individual may agree to a business contract–and the contract will be valid–only if that person has the mental competence and legal ability. If Jane Doe were eight years old, she could not sign a contract, or if she did, it would be legally unenforceable.
6. Both sides must enter into a contract honestly. If Jane Doe is blackmailed or intimidated by Universal Widgets into signing a contract, a New York court will deem the contract to be invalid and unenforceable.
How Should You Handle a Contract You Are Asked to Sign?
Read every contract completely, and have your attorney scrutinize it too. What will the contract require of you? If the wording is ambiguous or if nothing valuable is offered as consideration, your attorney may advise against signing or may recommend having the contract revised.
The claim that you were tricked into signing a contract will be almost impossible to prove in court–unless you have clear evidence of fraud–so it’s better to have a solution in place before any kind of legal problem emerges.
When you put a New York business contract lawyer on your team, she will explain why you should or should not sign any particular contract, and she will recommend against signing any ambiguous contract or any contract that may not be in your interests.
To Learn More or to Schedule a Consultation
Every business needs the services and advice of a good business attorney. In the New York City area, if you need help with–or if you have concerns or questions about–contracts or another business-related legal matter, contact a New York business lawyer at once.
To learn more about the legal services provided, or to schedule your first consultation, call 718-237-0411 and get the legal help that your business needs.