Years ago, many personal and business deals were made and transacted with a simple handshake. If disagreements ensued, the parties could go to court and ask a judge to resolve the dispute, hopefully, in their favor. These days written contracts are the norm and, if prepared properly, they can protect the parties’ rights and help insure performance. Let’s look at what makes up a valid contract between two parties.

For a contract to be valid and enforceable in a court of law, six required elements must be met.

The first three elements are Offer, Acceptance, and Mutual Consent. That is, there must be a specific offer; each party must accept and agree to the same terms; and each must consent to the offer of their own free will. These three conditions imply that the parties intend to create a binding agreement.

Next, there must be something of value (Consideration) to be exchanged between the parties. Consideration may be money, a promise to perform a service, or to supply a product. However, BOTH parties must receive consideration for the exchange to be considered more than merely a gift.

Both parties must also be of “sound mind” to understand and fully comprehend what is required of them and be judged as competent, otherwise the non-competent party can chose to ignore the contract. The definition of Competence as it relates to a contract means that neither party is/was a minor; neither is under the influence of drugs or alcohol when the contract is/was signed; and neither is mentally deficient.

Lastly, the contract must be for a Legal Purpose and not to do something illegal like selling drugs or any other illegal act. (It is not illegal to enter into a contract that does not have all of these elements; it just means that if one of them is missing, the contract cannot be enforced by a court of law.)

Some verbal contacts can also carry the force of law, however, most types of contracts must be in writing to be both valid and enforceable. Some examples are long-term contracts, pre-nuptials, and contracts to transfer real estate. There is also such a thing as an implied contract where you can unknowingly enter into a contract with someone and be held to its terms.

Be cautious and speak with a member of our staff before you enter into any contracts.

If you’re considering divorce as an option, there are a few things to keep in mind as you consider an attorney. Here are three tips to keep in mind to save you time and money.

1. Be Prepared & Prompt. You will be asked to provide financial information and other documentation to aid the Court in dividing the martial estate. Providing information to your attorney quickly will save you time and money. Depending on the court, those with children may be required to participate in parenting classes either online or in person. Prompt attendance and/or completion will further aid in reducing expenses. Finally, prompt responses to information requests, settlement negotiations and the like will aid the attorney in keeping your matter on track and reduce the time and expense of following up.
2. Cooperate & Possess A Productive Attitude. Working together toward a customized resolution, can also save time and money. While not always possible, an agreement allows parties to customize a plan for their unique circumstances. Remaining open-minded can aid the parties in reaching an amicable solution. On the other hand, if a party is vindictive or mean-spirited, the result provokes additional communication exchanges, Court appearances, and potential sanctions for the behavior, which delay the process and cost all parties more time and expense.
3. Be Organized. Organizing questions and concerns so they may all be discussed at one time rather than on separate occasions will aid in reducing time and expense. Whether in person, via phone, or via email, a party will be billed for each individual contact so significant monies can be saved if the questions or issues are consolidated into one meeting or communication rather than several. PLEASE NOTE: If there is an emergency issue, DO NOT DELAY communication.

The office of Taylor, Chadd, Minnette, Schneider & Clutter provides legal representation on behalf of clients. As part of that service, it is essential to develop a relationship with each client and understand the dynamics of each individual’s situation. While we enjoy our clients and developing relationships, it is important to remember our objective of mitigating costs while providing effective representation. Although our firm has knowledge and experience and can provide valuable insight, there may come a point when a party might benefit more from a mental health provider. We are happy to provide references upon request.