NewYork, NY (PRWEB) March 22, 2013
Laws.com announces that to help the small businesses; the site has launched free Business contractual agreement template. The template release is part of laws.com initiative to provide a full list of business related forms and agreements.
Business contracts are lawfully binding agreements and the contracts are unavoidable documents, which are required during almost all the turning points in life. A business contract becomes a necessity for a business, almost at every step in the business process, dealing with employees, contractors, banks, landlords, insurance companies, customers, clients and so on. The contract becomes a need as this is binding on the parties. Some basic requirements are essential for a lawfully binding contract. The contract has to be a well crafted one
Collect all the possible information of people who are involving in the contract, names, legal address, tax identification number etc. Begin the contract with stating the parties and listing all the information available. Legal paper is suggested for writing a contract as the document could be quite lengthy. This also depends on business requirement. Each and every contract will be different in contents. Date and signature at the bottom part of the document is needed; there should be a space for each individual and a witness for each person.
The contract has to be signed in the presence of a notary or a lawyer. It’s a welcome suggestion if the lawyer goes through the contents of the document. It’s a better idea always to seek the assistance of a lawyer prior to the drafting of the contract.
The contract as mentioned above is a lawfully binding agreement between two parties for exchanging services on the basis of some values. For a valid contract there has to be an offer and acceptance. This agreement is acted on in business dealing, but a broken contract will result in litigation or a settlement outside the court and payment for reparation caused by the violation.
The best way to avoid complication and court procedures are to go in for a well crafted agreement where parties to the contract can be sure that they have bargained for the best terms for their business. In case of any clarifications, an experienced attorney in the field of business contract can be consulted.
Business contract is used, when:
Hiring or being employed as an independent contractor, buying or providing services for products, real estate and leases, selling the business, joint ventures and partnership, franchising, confidentiality agreement etc.
Oral business contracts are valid as written contracts. If the party to the contract give the word that a job will be completed within a stipulated time frame for monitory benefit, then you have created an oral contract. Oral contracts are subjected to misunderstanding, and it’s very difficult to prove in a court room.
Written contracts are produced electronically or on paper and a written contract are always easy to prove as specific details are included in the contract.
Laws.com provides all the assistance in the making of a business contract. Answers will be given to any sort of inquiries pertaining to a business contract agreement. To download the agreement visits the laws.com Business contractual agreement page.