If you have an agreement with anyone worth any amount of money you see as important, you better put it in a written contract. If you don’t how will you ever enforce it if it goes wrong?
If you don’t put it in writing, it will be difficult to get your money if your client doesn’t pay. You see, it is very difficult to prove what you agreed to if you didn’t put it in writing. That is what we understand to be a contract. But, did you know that, legally, ”contract” has two different meanings.
- A contract is an agreement between two parties where the obligations are enforceable by law.
- A contract is also the writing which sets out the agreement between the parties.
In this episode, we are going to talk about contracts and what makes one. The goal is to help you understand how contracts impact your business and help you see them more clearly to know when to protect yourself.
In this 22 minute episode we will cover:
- Contract Element #1: Offer
- Contract Element #2: Acceptance
- Contract Element #3: Meeting of the Minds
- Contract Element #4: Consideration
- BONUS : Legal Purpose and Competence of the Parties
Show Notes and Referenced Content:
- Episode 52: Creative Legal for Your Customer Agreements (Waiver Episode)
- Elements of a Contract
- When Your Contract Should be in Writing
- Contracts are How We Define Business