How to Write a Business Contract: Avoiding Breach of Contract Lawsuits Informal business dealings amongst friends may be successfully initiated with just a verbal agreement and a firm handshake, but in the larger competitive business world, your success or failure often relies upon knowing how to write a business contract. The law firm of de la Riva & Associates, PLLC has the expertise to assist you not only in creating a proper business contract, but also in avoiding breach of contract lawsuits. A proper business contract is a legally binding written agreement between two or more parties, in which one side agrees to do something in exchange for something in return. The contract should not only identify all parties but also demonstrate a “meeting of the minds,” thereby showing assent to undertake a mutually beneficial relationship or transaction. A valid contract also requires “consideration,” which can be an exchange of money, goods, or services, or a promise to undertake a certain action by a later date. The attorneys at de la Riva & Associates, PLLC know how to write a business contract that is clear and specific about the terms of the agreement, the duties and obligations of all parties, the services or products to be exchanged, and any deadlines associated with the partnership. For example, any monetary issues should be indicated with specificity, including any relevant costs, payment arrangements, or interest charges for late or deferred payments, along with any due dates. Any intended deadlines must also be specified—particularly the start date and the requirements for project completion. In cases where the contract is intended to have an expiration date (i.e., a lease agreement), the expiration details should be explained in detail, including any applicable renewal terms. A proper contract should also define consequences for breach of contract. A well written business contract will make it easier for all parties to avoid breaking the contract, but even the best written contract cannot always prevent one or more parties from failing to fulfill their clearly stated obligations. If a breach of contract lawsuit becomes necessary, the law firm of de la Riva & Associates, PLLC can provide you with expert legal counsel for a successful litigation.

Copyright© De La Riva & Associates 2018