Whenever you open an account, purchase items, or agree to anything it should be written down to ensure that all parties have the same understanding of the essential terms. The other important issue for every contract is to consider and account for what happens when things go wrong. The four basic elements of any contract are to Identify parties and scope of contract, Identify performance obligations including payment, delivery, etc., Identify risks and who bears the costs of any risks, establish termination or default terms, damages, and procedures..
There are two important phases of a contract. Negotiation and Drafting.
Drafting a contract requires that it be in compliance with certain laws and requlations such as Federand and State laws, the Uniform Commercial Code and certain administrative codes depending on the contract and what it is for. We have many standard compliant updated contracts which we will custom draft with your terms.
Negotiation is an art by itself and requires realistic costs and benefit of each option to ensure that the issue most important to you are protected and included in the drafting of the contract. Many contract issues start out with "I thought that was in the contract" or "that wasn't my understanding of what we discussed".
Every contract, whether you or the other party drafts the initial contract, should be reviewed by an attorney to provide advice and counsel to ensure that your rights and obligations are properly protected before you sign.
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St. Paul Office: 1551 Livingston Avenue Suite 103 Saint Paul, MN 55118 Phone: (651) 204-7152 Saint Paul Law Office
Ronan R. Blaschko, Bankruptcy Attorney primarily serves the Dakota County, Ramsey County, Hennepin County, Washington County and Scott County areas in Minnesota, including cities Saint Paul, West St. Paul, Inver Grove Heights, Eagan, Apple Valley, Burnsville, Cottage Grove, Mendota Heights, Minnetonka, Richfield, Edina, Eden Prairie, Bloomington, Golden Valley, New Hope, Plymouth, Maplewood, Oakdale, Stillwater, Lake Elmo, Roseville, Little Canada, Minneapolis, Woodbury and Afton in in Minnesota.