Nashville, TN – Contracts are fundamental to the functioning of a business. These documents can give the rights and obligations of the individuals and groups involved in any agreement, and they can also provide crucial evidence of what the parties intended to do. Even though it is common for a contract to be a written agreement that is signed by two or more parties, there are other ways that the law will recognize an intent to form an agreement, even in the absence of such a document. Lawyers who focus on business law and contracts can provide more specific information.
Written or expressed contracts
The typical business contract is written. This is because it is usually best for the parties to a deal to have the document in writing with its terms clearly defined and explained. That way, if any party ever breaches their obligations under the document, a court has clear terms to examine and decide on remedies based on the breach. A written contract will also have both parties signing or agreeing to its terms after being an opportunity to examine the document with their attorneys.
Although a written document is usually favorable to a verbal promise, some contracts can be executed verbally when the parties speak and make an agreement. However, there are exceptions. People cannot transfer land or real estate by verbal agreement, they cannot transfer debt, or agree to any actions or sales that will take over a year to complete without a written document. As a general rule, transactions with higher stakes or larger value amounts in play should always be in writing.
Courts in Tennessee and other states have found that there are situations where an implied contract can be enforced based on the parties’ intention to create a contract or actions that imply some kind of agreement existed. Evidence such as prior behavior of the parties and industry custom may be introduced to show how the contract was supposed to function. There are also more general policy concerns that may come into play in recognizing duties of good faith and other contract law doctrines which can be implied by prior behavior and prevent an unjust outcome.
Business lawyers are available in Tennessee
The Law Office of George R. Fusner is a firm that handles business law issues in the Nashville, Tennessee area. Their attorneys are available to meet with anyone who needs additional advice.
USAttorneys.com is a service that works with people who are looking for lawyers in their area. Those who need to get a referral to a local licensed attorney can call 800-672-3103
Firm contact info:
7104 Peach Court, Brentwood TN 37027
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