Contractual agreements are the heart of every business operation and a critical part of the operation of a business. A contract is an agreement having a lawful object entered into voluntarily by two or more parties, each of whom intends to create one or more legal obligations between or among them. The elements of a contract are “offer” and "acceptance" by “competent persons” having legal capacity who exchange “consideration” to create “mutuality of obligation.” Proof of some or all of these elements may be done in writing, though contracts may be made entirely orally or by conduct. The remedy for breach of contract can be damages in the form of compensation of money or specific performance enforced through an injunction. Both of these remedies award the party at loss the benefit of the bargain or expectation damages, which are greater than mere reliance damages, as in promissory estoppel. The parties may be natural persons or juristic persons. A contract is a legally enforceable promise or undertaking that something will or will not occur. The word promise can be used as a legal synonym for contract, although care is required as a promise may not have the full standing of a contract, as when it is an agreement without consideration.
Due to misunderstandings of the terms or through outright breach, many contracts come under dispute between the parties involved. It is important to ensure you have selected the proper attorney to assist you in the drafting of a contract to fit your needs. Please contact Law Office of James. J. Collum, LLC for a FREE CONSULTATION regarding any question you have at (330) 494-4877 or by e-mail at jcollum@collumlawoffice.com regarding any questions involving a contract or a contract that you will need to draft.
Law Office of James. J. Collum, LLC are Ohio contract lawyers in cities all over Northeast Ohio including, but not limited to, the cities of Canton, Akron, Alliance, Canal Fulton, Massillon, Barberton, Cuyahoga Falls, Hudson, Fairlawn, Green, Macedonia, Munroe Falls, New Franklin, Norton, Stow, Tallmadge, Twinsburg, Kent, Ravenna, Streetsboro, Aurora, Brunswick, Medina, Rittman, Wadsworth, Dover, New Philadelphia, Uhrichsville, Orrville, Wooster, Columbiana, East Liverpool and Salem.
