| Contracts Frequently Asked Questions. |
- What is a contract?
- When is a contract needed?
- I think I breached a contract. What can I do?
- Someone breached their contract with me. What can I do?
- My business partners are my friends. Why do we need a contract?
- What should I include in my contract?
- Must a contract be in writing to be enforceable?
- Should I read a contract before I sign it?
- Are oral contracts valid?
- Can I change my Rent or lease contract?
- Should I agree to arbitration?
- What is a contract?
- A contract is an agreement between two people, usually written, to take action or inaction based on the agreement between the parties.
- When is a contract needed?
- Anytime you enter an agreement with someone else involving money or services it is important to write the agreement down as a contract, to prevent disputes in the future and to have a clear understanding of the agreement from the beginning.
- I think I breached a contract. What can I do?
- Depending on the type of contract, you should try to contact the other party to try to fix the breach. Of that is not a good option, or if you aren't sure if it's a good option, call our offices to discuss your concerns with an attorney.
- Someone breached their contract with me. What can I do?
- You should always first try to talk to the person who you think breached the contract. If that doesn't work, you should call our office to see what further options you might have to enforce the contract.
- My business partners are my friends. Why do we need a contract?
- There's an old saying that says "you should never go into business with a friend." Of course, we wouldn't give you that advice, but we do caution you that it's important-even for friends-to understand and agree on all details of your business relationship with your friends before any problem arises. A contract is a good way to do this, and is a good way to make sure that you stay friends even after going into business with them.
- What should I include in my contract?
- Your contract must be detailed so that it shows the entire agreement you have with the other person. Even if you don't think a particular issue is likely to occur, you should still include a provision for that issue.
- Must a contract be in writing to be enforceable?
- No, an oral contract can be enforceable in some situations. Certain types of contracts, however, do need to be in writing to be enforceable.
- Should I read a contract before I sign it?
- You should always read every part of a contract before signing it. By signing it, you show that you agree to abide by the terms of the contract. If you haven't read it all of the way, you might be agreeing to things that you don't want to agree to.
- Are oral contracts valid?
- For certain types of contracts, an oral agreement is enough to form a contract. Other types must be in writing.
- Can I change my Rent or lease contract?
- Normally, once you've entered a contract, you have to abide by the terms of the agreement. In some situations, depending on the contract and other facts, you may be able to change all or part of the agreement. Call our offices to speak to an attorney to see if you have any options with respect to your rent or lease contract.
- Should I agree to arbitration?
- It depends on the type of contract, and the type of arbitration clause in the contract. Sometimes arbitration can be a more expensive way to resolve disputes. If you have any questions about a contract that you plan on signing, call one of our attorneys to discuss any concerns you might have.
Contact a Twin Cities Lawyer Today
Contact our office today to set up a free consultation. You can reach a helpful and experienced Minneapolis/St. Paul, Minnesota, attorney today at 651-204-7152.
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