To gain a better understanding of the concept of contract drafting and review in North Carolina, it can be helpful to get an idea of what a contract is. In general, a contract is a legally binding agreement that is made between the parties to the agreement that outlines their rights and duties as outlined in the contract.
Contracts can be formed in two different ways, in writing or by mouth. For the purpose of contract drafting discussed in this article, it will reference agreements that are made in writing.
Contract drafting is putting into writing the terms and conditions of the agreement that is made between the parties. The parties to the contract may go through many different drafts and negotiation sessions before the contract is finalized.
Drafting a contract is meant to create a written, legally binding document that is clear, concise, as well as to include the intentions of the parties. There are many benefits that come with the process of drafting a contract.
An example of these benefits includes letting the parties discuss the contract terms before the parties sign it and make it binding. This important step can help prevent disputes in the future. The contract itself serves as evidence of the intentions of the parties in addition to evidence of their obligations.
Another benefit is that the parties can get a clear understanding about their duties under the contract. Additionally, if any issues come up when the parties are working on their part of the contract, especially in complex contracts, a lawyer can provide guidance.
If an individual in North Carolina has any concerns or a dispute involving contract drafting and review, it is essential to have a lawyer consultation.
How Are Contracts Drafted in North Carolina?
Although any person in North Carolina is allowed to draft a contract, it is very important to have a lawyer draft and review the final draft of any contract to ensure its validity. The parties that enter into a contract are the people who determine how their contract is drafted.
How a contract is drafted will also depend on the type of contract the parties are drafting. Specific types of contracts, such as employment contracts, will often include specific terms and language found in confidentiality agreements.
Most contracts have to have a basic format, which include standard elements and language, such as:
- Definitions of significant worlds
- Legalese that indicates the beginning or end of the document, such as the signature block
- The rights and duties those involved in the contract
- How the parties can terminate the contract
- General contract provisions
- Any special policies
Regardless of the type of contract being drafted, the following elements must be included:
- Offer
- Acceptance of the offer
- Consideration, often money
- Identification of the parties
- The parties must have the required legal capacity to enter into a contract
- Legal subject matter
- For example, a contract to hire a hitman is not allowed
- Mutual agreement between the parties
- The parties’ mutual understanding of their rights and duties under the contract
There are also other terms and conditions that are commonly included in contracts, for example:
- Warranties
- Time is of the essence clause
- Severability
- Liquidated damages clause
- Choice of law and forum selection
- Assignment
- Confidentiality
- Force majeure
- Arbitration clause
- Indemnification
The terms listed above refer to duties the parties to the contract must perform, events that will trigger consequences, and conduct that is considered bread of contract. North Carolina lawyers can help clients draft a legally enforceable contract and ensure they understand all of the terms that are included.
What Is Contract Review?
In North Carolina, contract review occurs when one party to a contract hires an attorney to review the terms and conditions included in their contract. It is important to have an attorney review any contract before someone signs one.
If there is a dispute that arises related to a contract, an attorney can work with the parties to come to a resolution. North Carolina attorneys will know what to look for in the contract, how to draft a valid contract, and the best methods for resolving disputes. When an attorney reviews a contract, it can help protect parties against both current and future disputes.
A contract is commonly some of the most important evidence in a legal claim. It is usually the first document that the court reviews, whether the dispute is resolved in or out of the courtroom.
When an attorney in North Carolina reviews a contract, they will look for certain issues, including whether the contract has clear and unambiguous terms, straightforward language, definitions of technical terms, and follows applicable laws.
North Carolina lawyers can also help their clients ensure they fully understand what their duties and obligations are under any contract they sign. If there is anything the parties did not mean to include in their contract, a lawyer can amend or change those.
What Are the Advantages and Disadvantages of Hiring a Lawyer To Draft or Review a Contract in North Carolina?
There are both advantages and disadvantages to hiring a North Carolina attorney to review a contract. Examples of advantages to having a North Carolina review a contract include:
- All parties have a complete understanding of their duties and obligations
- The terms and conditions are what the parties intended
- Preventing future breach of contract issues and legal disputes
- Adding additional beneficial terms and conditions in the contract that may be been left out
- Not forming an unconscionable, illegal, or voidable contract
The disadvantages of hiring a contract review lawyer may be:
- Unnecessary funds spent on hiring an attorney to review a simple and straightforward agreement
- Creating a delay in completing a business deal while the lawyer reviews the contract
- The lawyer does not practice in the legal area the contract involves and, therefore, does not fully understand the nature of the business
- Drafting a contract that is more complicated than the parties originally intended
Should I Hire an Attorney in North Carolina To Assist With Contract Drafting and Review?
Yes, it is important to hire a lawyer in North Carolina to help with contract drafting and review, especially for contracts that involve complicated issues. When you have any questions or concerns about the process of drafting and reviewing a contract in North Carolina, you should consult with a contract lawyer for help.
A contract lawyer will make sure that the contract complies with all of the North Carolina laws that may apply, making it enforceable if there is a dispute. Additionally, a lawyer will make sure the contract includes all of the terms and conditions the parties wanted while excluding any unfavorable terms. If you do have a dispute involving your contract, your North Carolina lawyer will represent you in court and help you negotiate a resolution.
You can quickly use LegalMatch, in as little as 15 minutes, to find a North Carolina contract attorney in your area who can help you with any of your contract concerns. It is free for you to submit your contract dispute, question, or concern on the website.
After this is complete, you should start receiving responses from member lawyers near you in as little as one business day.
