3003 Lakeland Cove, Suite E.  |  Jackson, MS 39232  |  601-420-2200

MASSEY, HIGGINBOTHAM, VISE, AND PHILLIPS, P.A.

Drafting Contracts

A well-written contract clearly spells out the terms in a complete and unambiguous manner. When drafting a contract, you need to consider every possible situation and spell out the terms to handle that situation. We can walk you through potential issues and determine what is appropriate to include in your contract. Contracts need to be specific to the situation and the property.  A well-written contract can help you avoid expensive lawsuits in the future as well as help you protect your land.

Contracts are agreements with specific terms between two or more persons or entities in which there is a promise to do something in return for a valuable benefit known as consideration. Since contracts and the laws pertaining to them are central to most business dealings, drafting a contract is one of the most significant areas of legal concern and can involve variations on circumstances and complexities. The creation of a valid contract requires the following elements: a) an offer; b) an acceptance of that offer which results in a meeting of the minds; c) a promise to perform; d) valuable consideration (which can be a promise or payment in some form); e) a time or event when performance must be made; f) terms and conditions for performance, including fulfilling promises.

While contracts can be either written or oral, oral contracts are more difficult to prove and some types of contracts must be written to be enforceable. This includes the transfer of real property.

Be sure you understand a contract fully BEFORE signing it to avoid expensive litigation later.