Contracts... Hey Lawyers!

[Independent Gal]

Do any of you lawyers out there know the answer to this question?

Say two people make an arrangement between themselves. They draw up a contract with the terms and both sign and date it and each one has a witness sign and date it. The agreement is mutually agreeable, equal, and fair in the eyes of the witnesses as well as the contracting parties. Neither one of them consults a lawyer.

Do courts uphold this sort of contract? Or do you HAVE to have a lawyer to make a contract? Or is the job of the lawyer just to advise you in case you "miss" some finer point of law?

And is there any way of finding out the finer points of law for a certain kind of contract without having to drop, say, $2K to hire lawyer?

 

[littlelysser]

Hey there IG!

No lawyer required. Don't need one to enter into a contract. All you need is an offer (will you wash my car for five dollars?), acceptance (yes, I'll wash your car for five dollars), agreement (really, that both parties are talking about the same car, same dollars...this is sometimes referred to as "meeting of the minds") and consideration (meaning I'll pay you $5.00 dollars if you wash my car - we couldn't enter into a "contract" if we agree that you'll wash my car for free).

Does that make sense?

ETA: as for the lawyer thing - although they aren't required, it probably isn't a bad idea to have one take a look at a contract that involves a good amount of money or services.

Couple more things:

Depending on the type of contract, there are attorneys that will work on a contingency basis - employment contract immediately jumps to my mind - and they don't charge anything up front, but will receive a portion of any recovery you migh have.

Also might not be a bad idea to check with the law schools near you - lots of them have clinics where third year law students do "real" lawyering, while under the watchful eye of professors and practitioners.

 

[Independent Gal]

Yup! Thanks!

Would this also apply to a pre-nuptial agreement or marriage contract? Or only for buying / selling / renting type contracts?

Just saw your ETA. The law school lawyering thing is a great idea.

 

[littlelysser]

Prenups and those sort of contracts are often found to be enforceable as well. I know with pre-nups you begin to consider other factors...and honestly, I''m not particularly well versed in that area of law.

But really, what it comes down to is that if two people enter into an proper contract, absent some mistake or duress, the court will uphold it. Even if the terms seem to favor one party.

Of course, there are all kinds of issues relating to what certain terms "mean" in the contract and what they require...but that is a whole other ball of wax!

 

[Independent Gal]

OK! That''s good to know. Thank you so much!

 

[strmrdr]

The lawyer I sometimes use only charges ~$100 to review a small contract and suggest changes.
I dont see 2k unless you have the lawyers negotiating the contract.
Iv drawn up simple contracts myself but would have anything important reviewed.
For example if its something that would be settled in small claims the need for the contract to be complex would be less than if $100000 was involved.

 

[Gypsy]

Date: 7/17/2007 4:14:59 PM
Author: littlelysser
Hey there IG!

No lawyer required. Don''t need one to enter into a contract. All you need is an offer (will you wash my car for five dollars?), acceptance (yes, I''ll wash your car for five dollars), agreement (really, that both parties are talking about the same car, same dollars...this is sometimes referred to as ''meeting of the minds'') and consideration (meaning I''ll pay you $5.00 dollars if you wash my car - we couldn''t enter into a ''contract'' if we agree that you''ll wash my car for free).

Does that make sense?

ETA: as for the lawyer thing - although they aren''t required, it probably isn''t a bad idea to have one take a look at a contract that involves a good amount of money or services.

Couple more things:

Depending on the type of contract, there are attorneys that will work on a contingency basis - employment contract immediately jumps to my mind - and they don''t charge anything up front, but will receive a portion of any recovery you migh have.

Also might not be a bad idea to check with the law schools near you - lots of them have clinics where third year law students do ''real'' lawyering, while under the watchful eye of professors and practitioners.

Ditto.