Download Business Contract Template here without paying any money. Business contracts are legally binding agreements between 2 parties for the exchange of one or many services, which are of some value. A valid contract should consist of an offer and agreement. An offer is made by the promissor to do or not to do something in return for a legal consideration. Generally, these contract are utilized for: being employed or hiring as an autonomous contractor, buying & selling goods or services, leases & real estate, partnerships & joint ventures, non-compete agreements, franchising, etc. oral contracts are as legitimate as written contracts, however, in case of legal suits written contracts stand far better chance of winning the suit than oral contracts. The disadvantage of oral contracts is that they are subject to misapprehension and are difficult to establish in court. No body can deny the importance of Business Contract Template.
A business contract should comprise of the date of entering into the agreement, name of parties involved, details of service to be provided or received, payment terms and frequency, interest or penalty clause for belated payments or inadequate service, duration of the contact, mode and manner of termination, renewal terms if any applicable. With the advancement of technology e-signatures are being used in signing contracts. However, like oral contracts they are also subject to be challenged in court of law. A business contract should be finalized and signed only after it is reviewed by an attorney or a professional legal consultant before it is signed.
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