A contract is a legally-binding agreement that parties enter into, in order to meet a common goal. What happens when one, or both, parties do not follow through with their end of the deal, though?
To see whether or not you may be able to go to court over a broken contract, you first must understand what a contract is. Here are the elements that make up a contract:
Each party will negotiate back and forth until they find common ground to agree on. This is a good time to make sure you like everything that is written, and it is important to consult with a lawyer who will understand the language of the document.
Next, the parties will show that they agree to whatever contract is written up. This is a promise made by all parties that they intend to follow through on what they have agreed upon.
The only way a contract is enforceable is if it complies with the law. If it does not, the contract will not be valid, even if both parties agree.
Mutuality of Obligation
Each person who signs the contract understands and agrees to the same thing at the same time.
Certainty of Subject Matter
Everyone must understand the terms of the contract to make it binding.
Consideration is either a benefit to the offeree, or detriment of the offeror.
Each party of the contract must be of sound mind and body, and must be old enough to enter into the legally-binding contract. Contact an Attorney
If any of these items of a contract are not met, contact a lawyer, like a breach of contract lawyer in Charlottesville, VA from Dale Jensen, PC, as soon as possible to see if you may have a case.