Contract Law Basics

When you enter into a contract, you are legally binding yourself to do something or not to do something. You should always get your contracts in wiritng. The problem is that most of clients come to us when the problem is far gone. For example, during a breach of contract interview, we may find that you've decided to stop performing your end of the agreement because you think it is justified because the other party stopped performing.  An attorney that understands contract law would never tell you to do this.

If you look at the problem closely, you have breached the contract also. Contract law allows certain legal justifications to non-performance of a contract. The above reason is simply not one of them.

Should I use a forms program to draft my contract?

The simple answer is that you can obviously take this short cut. However, read the fine print when you buy it. Most contract forms programs have a disclaimer that says you should consult an attorney. This creates a problem. Can you now go after the program seller? Maybe not.

You must seriously consider the risk you a seeking to protect. Most people don't quite understand contract law and simply take chances. In the event of a breach, Colorado law allows certain legal remedies that you may not understand. The lesson is not to take unnecessary chances.

Contract clauses are something you should not guess on. Any contract should contain clauses for attorney fees and the controlling state law. At a minimum, you should write a contract that clearly explains the obligation of each party and what is expected if there is a breach.

A Colorado court generally will not rewrite a contract for you if the terms are clear.  Verbal contracts, although enforced and not prefered. Even if you need to quickly jot something down on paper, it beats nothing.

When in doubt, get a contract law attorney to draft your contracts for you. Never guess or take short cuts. The cost in the long run can be very expensive. If you think you need help drafting or reviewing your contract contact our firm for immediate help or call 720.941.7200