Laman

Agreement in writing


The general rule of thumb for deciding if a contract needs to be in writing is determined by the nature of the contract. For example, any agreement that is related to your business, large personal assets such as your home and contract work that will take over a year to complete should be written down in a contract and made binding. 

However, an agreement that involves a low amount of financial risk, is between family members or is not necessary as part of your daily business can be verbally contracted. 

Although most people believe that it is always necessary to get any agreement in writing, there are cases where a verbal agreement is legal and valid. 

However, since there are just as many instances where a written agreement is necessary or, at the very least helpful, it is a good idea to know which situations call for which types of agreements.

Just as some agreements do not call for a written contract, some agreements must be written down to be legally binding and to fully protect you and you assets from harm. 

Agreement in writing

These types of agreements usually involve the sell of real estate or other expensive material possessions, the loaning of substantial amounts of money any agreement that outlines the delivery of services. 
The disadvantage to any verbal agreement, however, is the fact that they can be hard to enforce. For example, if you loan your brother fifty dollars and he verbally agrees to pay you back in three weeks but three weeks come and go without repayment, it could be difficult to get your money back. 

Without a signed, written agreement, your brother could claim that the said he would repay you in four weeks, or worse, he could claim the money wasn't a loan but rather a gift. 

In this type of situation, aside from stopping all communication with your brother, there are really no legal actions you could take. You could attempt to sue your brother, but the lawsuit could end up costing you more than your original fifty dollars, or you could win the lawsuit only to have the judgment dismissed because he cannot afford to pay you back. 

Another drawback to a verbal agreement is that many times they do not encompass all of the details necessary to a contract. For example, you may make and agree to sell woodcarvings from your home part-time to a friend.

Without a written agreement you may end up facing problems down the road. For instance, he may decide that the items are not selling and refuse to pay you for the items you have already made. On the other hand, you may agree verbally on a price and then find out after delivery that your friend expects to pay a lesser amount. 

In either case, having a written contract that spells out every conceivable option for the agreement will protect both party's rights and interests. 

While individuals can generally write up most contracts it is usually best to hire an attorney to draft any contracts that are related to your business or that concern large money amounts or contracted services. Although you may wish to write the contract up yourself to avoid any legal fees, paying an attorney now could save you hundreds of dollars later. 

If another party draws up the contract it is best to hire an attorney to look the contract over before you sign it. When searching for a lawyer, it is recommended that you contact one that has experience in business contracts or that specializes in legal business issues.


  • What would actually come after dating?
    Do you think such a perfect person actually exists? Well maybe yes maybe not. But if everyone were to nevertheless, really have such a high expectations, love is certainly going to be hardly visible…
  • I will explain why people need to have a fake mail address
    Mail forwarding: is a service that allows you to have your mail sent to a "mailbox" and then they will forward it off to your location. This mail is generally sent in bulk to the recipient and is…
  •  Jewelry
    Jewelry is an important investment in style and in your relationship! Buying jewelry wisely and keeping it clean and well maintained will help it hold its beauty and value for your lifetime and…
  • Why is it that most people find it difficult to put the necessary action behind their knowledge?
    We often hear that "knowledge is power." But, knowledge is really only power in reserve. It remains useless if it's not tapped into by applying action. Knowledge that is not put to action remains…
  • Here are four quick and easy ways to gather new customer information
    Before you begin building a database of existing and potential customers, make sure that you understand the basics behind protecting and ensuring their privacy. Businesses need to build customer…
  • Soon, your home will exude the warmth and hospitality you want
    No matter what you call it or how many of these rooms you have, organization is necessary to make it a welcoming haven for your family. Walk in to this room as a visitor would. Notice the small…
  • Instead of complaining, why not contribute
    Often we are one of the biggest contributors to the calamity and chaos we experience in our lives. Stress management is the recognition that life is all about the choices we make. Starting today,…
  • Ready for more tips on how to make your AdWords campaign work more effectively for your business?
    Adwords does not have many protections against Click fraud, although they do disable Adsense accounts who cheat. Google are very hesitant to refund the victims, if at all. Reports tell many…
  • Learning disability has occurred quite extensive in children
    As an adult you pick-up a newspaper, magazine, or any print matter and learn through reading the material something new or maybe a deeper understanding of the topic. This process of reading has…
  • True wealth is spiritual wealth
    " You will become as great as your dominant aspiration...If you cherish a vision, a lofty ideal in your heart, you will realize it." ~James Allen, As You Think  While it is fine to pursue…

No comments:

Post a Comment

Motivation (18) Website (16) Tips and Tricks (14) SEO (12) Stress (11) Business (10) Marketing (10) Writing (9) Acne (8) Search Engine (8) Vacation (8) Dating (7) Martial Arts (7) Online Business (7) Pregnancy (7) Small Business (7) Travel (7) Blog (6) Diet (6) Health (6) Jewelry (6) Lifestyle (6) Psychology (6) Religion (6) Stress Management (6) Adwords (5) Art (5) Education (5) History (5) Job (5) Multivitamin (5) Relationships (5) Social Media (5) Traffic (5) Young Mother (5) America (4) Car (4) Children (4) Customers (4) Food (4) Hair Loss (4) Hobby (4) Insurance (4) Love (4) Medicine (4) Money (4) Skin Health (4) Wedding (4) Weight Loss (4) Baby (3) Baby Gear (3) Beauty (3) Copywriting (3) Credit Card (3) Depression (3) Diamonds (3) Dog (3) During Pregnancy (3) Entrepreneurs (3) Fashion (3) Herbal (3) Home (3) Keywords (3) Knowledge (3) Law (3) Leaderships (3) Loan (3) Mother (3) Nutrients (3) Pet (3) Printing (3) Safety (3) Saving Money (3) Sleep (3) Spyware (3) e-Mail (3) Affiliate (2) After Pregnancy (2) Anxiety (2) Biography (2) Body Massage (2) Celebration (2) Credit (2) Debt (2) Disease (2) Email (2) Family (2) Garden (2) Golf (2) Google (2) Green Tea (2) Hair (2) Hair Style (2) Life Insurance (2) Mail Redirection (2) Massage (2) Medical Insurance (2) Menopause (2) Music (2) Parents (2) Party (2) Philosophy (2) Photography (2) Politics (2) Promotion (2) Spam Email (2) Supplement (2) Tools (2) Visitors (2) Web Hosting (2) Wedding Rings (2) Women (2) eBay (2) Accidents (1) Alcohol Abuse (1) Backlinks (1) Book (1) Breastfeeding (1) Cat (1) Chemicals (1) Childbirth (1) China (1) Communication (1) Cooking (1) Dangerous (1) Diabetes (1) Digital Camera (1) Economy (1) Environment (1) Exercise (1) Extreme Sport (1) Fishing (1) Flowers (1) Forex (1) G (1) German (1) Gold (1) Health Insurance (1) Healthy Relationship (1) Heart Disease (1) Home Business (1) Imitation Diamonds (1) Insomnia (1) Karate (1) Las Vegas (1) Lawyer (1) Low (1) Management (1) Marriage (1) Meditation (1) Muay Thai (1) Myths (1) Ninjutsu (1) No Smoking (1) Nutrition (1) Online Dating (1) Overweight (1) Photocopy (1) Pop Under (1) Pop-Up (1) Relaxation (1) Restaurants (1) Rhinestones (1) Ring (1) Since (1) Skin (1) Spam (1) Spanish (1) Spare Part (1) Sport (1) Tae Kwon Do (1) Tai Chi (1) Therapy (1) Tiger Claw (1) Toxic (1) Wedding Favors (1) Wedding Gifts (1) Wedding Speeches (1) Worker (1) Yoga (1) energy (1) lnternal (1)