A contract is a written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.
What that means is, if you have a written or spoken agreement with a person, persons, or entity, then the court and judicial system is obligated to protect you from the agreement being broken.
1-That doesn’t mean that all agreements are forced, an alternative is a settlement or revised renewal of the contract.
2- The purpose of a documented agreement, such as a written agreement, is to prove your entitlements in regards to the agreement itself. It is used to reflect on in future dealings sometimes, and called into question sometimes, but if there’s proof of it, disputes are easier to resolve.
3- For your Contract to be a Valid Contract, and ultimately recognized by a court it must contain certain elements.
- The Date. This absolutely must be the date that all parties are engaging in, or in other words signing, the Contract. If it’s even 1 day earlier or later than the date it’s signed it can be ruled Void, which means the court decides it doesn’t recognize it at all.
- The names of the entities entering the Contract, and preferably all entities addresses as well.
- The terms of the agreement between all entities. Financial agreement terms would go here. They would specify a product, service, or tenancy in exchange for a dollar amount or something else of value set by the entities.
- The signatures of all entities engaged in the agreement.
5- You must use blue or black ink only when signing a contract, green is used for temporary notes and red ink is used on sample contracts and makes a contract void.
6- If the contract has multiple pages you must initial all the pages. This is to protect you from signing a contract and then someone switching out pages, paragraphs, or points without signatures attached.
7- Anytime something is changed in a contract but the contract is not redrafted all parties must initial the changes to indicate the change is agreeable by all parties.
8- All entities entering a contract are entitled to a copy of the agreement engaged it.
If you follow these instructions your contracts and legal agreements will be very, very difficult to contest and you will remain protected.