Warren Gammill & Associates, P.L. Logo
Warren Gammill & Associates, P.L. Logo

Experienced Miami Business Trial Attorneys

  • Home
  • Firm Overview
    • Warren P. Gammill
    • Jordan M. Krassner
  • Practice Areas
    • Business Litigation
    • Usury
    • Real Estate Litigation
    • Deed And Probate Litigation
    • Appeals
    • Commercial Landlord-Tenant
    • Contract Litigation
    • Fraud
    • Legal & Professional Malpractice
  • Blog
  • Contact

Call us today:
305-579-0000

Warren Gammill & Associates, P.L. Logo
Click To Call
  • Home
  • Firm Overview
    • Warren P. Gammill
    • Jordan M. Krassner
  • Practice Areas
    • Business Litigation
    • Usury
    • Real Estate Litigation
    • Deed And Probate Litigation
    • Appeals
    • Commercial Landlord-Tenant
    • Contract Litigation
    • Fraud
    • Legal & Professional Malpractice
  • Blog
  • Contact

What do you need to make a business contract valid?

On behalf of Warren Gammill & Associates, P.L. | Oct 6, 2017 | Contract Disputes

Contracts are part of doing business — you won’t be in business long if you don’t get a clear idea of what it takes to make a contract valid and legally enforceable.

In order to protect yourself and your business, keep the following facts in mind:

The basic elements

Every contract has to have certain elements to survive a legal challenge:

  • It has to be clear that both parties intended to enter into a legal agreement.
  • The agreement cannot violate the law and still be enforceable (like an agreement to sell a kilo of drugs and split the proceeds evenly).
  • One of the parties involved has to make some kind of offer — whether to buy something, sell something or perform a service.
  • The other party has to accept the offer.
  • There has to be consideration — which means that something of value changes hands, even if that value is fairly nominal in nature (such as a retainer fee).

While not all contracts have to be written down, it’s definitely safest to do your business that way — it makes it much harder to dispute the facts when they’re printed in black and white above everyone’s signatures.

Another important consideration

For most businesses, the most important thing to consider is how long your offer is valid or “open.” If you make an offer, you may not get an automatic acceptance or refusal — but that doesn’t mean that the offer is rescinded immediately unless you put that condition on it in the first place.

How long an offer remains good is generally subject to interpretation and has a lot to do with your industry. If, for example, you’ve ever received an estimate for repairs to your home or car, you may have noticed that the estimate will say somewhere at the bottom that it’s good for 30 days. At that point, if you don’t decide to hire the contractor or mechanic, the offer expires.

Contracts are a vital part of business, and anything beyond the most basic of deals may require an attorney’s help in order to make it valid. You may be wise to hire a contract attorney to help prevent litigation in the future.

Source: FIndLaw, “Write a Business Contract: Key Considerations,” accessed Oct. 06, 2017

Recent Posts

  • What do business partnerships fail?
  • Overview of business litigation involving defamation
  • Common types of tortious interference
  • Legal malpractice lawsuits
  • Business debt collection from customers and clients in Florida

Archives

Categories

  • Business Litigation
  • Business Torts
  • Commercial Real Estate
  • Construction Litigation
  • Contract Disputes
  • Firm News
  • Legal Malpractice
  • Uncategorized
  • Workers' Compensation

RSS Feed

Subscribe To This Blog’s Feed

FindLaw Network
Warren Gammill & Associates, P.L. Logo

p  | 305-579-0000

f    | 305-371-6927

Contact Us

Courthouse Plaza
28 West Flagler St Suite 400
Miami, FL 33130

Map & Directions

Social Media

  • Follow
Review Us

Schedule Your Free Initial Consultation

© 2021 Warren Gammill & Associates, P.L.. All Rights Reserved.

Disclaimer | Site Map | Privacy Policy | Business Development Solutions by FindLaw, part of Thomson Reuters