A contract lawyer helps businesses, organizations or individuals by drawing up and enforcing agreements in the form of a contract. A contract is a legal agreement which a party can forward in the court of law in order to enforce it in case of a breach of the contract.
Businesses are always in need of a contract lawyer. Contracts are used at the time of buying or selling. In fact the sales deed of a home is a contract as well. It’s a paper which binds both the buyer and the seller to agree to certain terms and conditions at the time of the sale. If one of the party fails to comply with whatever is mentioned in the contact, the other party can sue tem for this.
The major reason why contract law is an essential part of the corporate world is that it allows companies and consumers to carry out business activities without any issue. Contracts allow for smooth transactions. Any two parties can carry out a business deal with complete confidence only due to a piece of paper which binds both together.
What does a contract comprise of?
A contract can be divided into four parts, which include
- An offer. This is an offer made by one party to the other. An offer clearly states the terms and conditions of a deal. When the other part confirms to those conditions, they sign the contract.
- Acceptance. If the party accepts an offer on the same terms and conditions on which the offer has been made, the contract is said to be successful. In case the party decides to add their own terms and conditions, it would not be a binding contract but would rather be a counter offer.
- Consideration. While signing a contract both parties are expected to give something up. For example in an employment contract the company offers money and the employee offers their services.
- Both parties need to have a mutual intention of joining into a contract. The contract binds both of the parties through a number of agreements.
How does a lawyer prepare a contract?
A lawyer prepares a contract based on the choice of law and jurisdiction issues. The court makes use of a state law. The state law differs from one region to the other. The rules of a contract for each state can vary to quite an extent. So the lawyer needs to be extra careful when formulating a contract. They need to make sure that the contract is compliant with the laws of the state.
There are specific lawyers who specialize in contract law. They may work at a law firm, provide individual services or work for a company as an in house personal. They are experts at drafting ad evaluating contracts. They not only draft a contract but also evaluate one. They advise their clients on whether they should sign a certain contract and are on the lookout for a catch to ensure that their clients do not end up in legal trouble.
Make sure you hire a contract lawyer based in Melbourne.