A contract is a powerful legal tool that can bind Florida residents and companies to each other through their mutual agreement to perform certain tasks. At their most basic levels, contracts include offers for performance of certain actions, acceptances of offer terms, and consideration or payment for the performance of those agreed upon actions. Most business contracts require more information, though, and can become ambiguous when they are not fully clear.
Business contracts should fully identify the parties that are subject to the contracts’ terms. The parties should be identified as individuals or corporate entities, and their contact information may also be included therein. After identifying the parties to the agreement, a business contract may stipulate why it is being created and how performance is to be undertaken.
Contract terms should include but are not limited to costs, payments, time lines, and quantities. Units of measure should be noted as well to remove any questions about how much of a good is expected under the agreement. A business contract should include where delivery should be made as well as any special instructions that should be followed to ensure the goods arrive at their destination safely.
Warranties, remedies, and other legal disclaimers should be included in business contracts along with a host of other important legal terms. As different businesses will have different contractual needs it is important that readers use the support of their business law attorneys to draft and execute their business agreements. This post is not offered as legal advice. Its contents may be used as a place to start for those who wish to learn more about the formation and terms of business agreements.