Agreement Forms

Answer 1

Parties make agreements to take certain actions or provide for payment between themselves. Oral agreements are commonplace, but in many cases, agreements are put into writing to clarify terms and enhance enforceability. Many pre-written forms exist for agreements of various types, and these are normally designed to include important terms and conditions as they are usually agreed to by parties to such agreements. In many cases, however, parties consider it necessary or preferable to draft agreements from scratch to ensure that all necessary terms are included and that they will have the intended meaning and effect. It is expected that when an agreement is signed by its parties, that the terms and conditions enclosed will become permanent and binding. It would not be effective for one party to an agreement to unilaterally change a term of the agreement after it has been signed without the other party's knowledge or consent. This would serve to invalidate the agreement or possibly amount to a breach of the agreement. When drafting an agreement, be sure to address and include the most important terms. The basic important terms to any agreement include the term of the agreement or its duration, items to be exchanged in the form of consideration, including normally money, and the process for dispute resolution, if any. Agreements for certain specific purposes, such as buy-sell agreements, lease agreements, and operating agreements, might require specialized terms.