A contract is a legally binding arrangement that is usually a document signed by two or more parties when they come into agreement about certain terms and conditions. This is what a concept of contract is. Since they are legally binding agreements, both parties are liable if any of them breaks the agreement or violates what is written in the agreement.
The essential elements of a contract is included in the 8+ legal contract templates that we have gathered for you. These templates can work wonders and will save you time and cost. What are you waiting for? Download now!
Legal Employment Contract Template
Legal Services Contract
Legal Agreement Contract
Standard Legal Contract
Step-by-Step Process to Write the Legal Contract
Care should be taken when making documents that have legal implication or those that are enforceable by law. It is in the details that a contract is made effective. To write a legal contract, you should follow the steps below. Please also check our proposal forms and management contracts.
- Not everything requires a contract. Think first if a contract is needed for a certain transaction. If your answer is yes, then proceed to the next step.
- Start writing your contract with the basic information that should be included in it. That would be the date and the names of the people or companies that would be involved in the contract.
- Write the terms and conditions in detail. Make sure to use simple words and avoid technical terms so that your contract can easily be understood. Also be as specific as possible to avoid confusion.
- Proofread and spell-check your work.
What Makes Up a Legal Contract?
- Name of all parties involved
- Date and time
- Location or address involved
- Contact information
- Length of contract including start and end date
- Specific terms and conditions
- Conditions in case of contract termination
- Consequences if contract is violated
Legal Loan Contract
Legal Construction Contract
Legal Rental Contract
Free Legal Contract
What Is the Difference between an Agreement and a Contract?
An agreement could be a verbal or written arrangement where two or more parties agree about a certain decision or course of action. Not all agreements are legally binding. Most verbal agreements are not legally binding. For example, you and your group of friends decided to go out and watch a movie. All of you agreed on this plan. There are no consequences if one fails to go with you to watch a movie. This is an agreement that does not make you liable for anything legal.
A contract, on the other hand, is a legally binding agreement whose terms and conditions are usually written in a document. A contract is enforceable by law, thus any violations made on the terms and conditions will lead to legal consequences. In a contract, all the parties that are involved are held liable. They all share the same benefits and obligations that are stipulated in a contract. To differentiate a contract from an agreement, remember that all contracts are legally binding agreements, but not all agreements are legally binding.
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