Contracts, Contracts, Contracts
Our firm specializes in all things contract-related—drafting, interpreting, modifying, defending, enforcing, and navigating every step in between. We bring experience and attention to detail to a wide range of contract types.
Our team works with contracts including:
Mediation agreements, leases, franchise agreements, service agreements, disclaimers, advertising agreements, supplier/vendor contracts, partnership agreements, operating agreements, employment agreements, non-compete agreements, non-disclosure agreements, and settlement agreements.
What Makes a Contract?
People often ask what needs to happen for a contract to be legally formed. Here’s a simple framework to help you think through whether a contract exists. While this won’t answer every possible question, it’s a solid starting point and highlights the core issues to consider.
Every valid contract is built on four essential elements:
1. Offer
An offer is a clear proposal, made either verbally or in writing, that, if accepted, creates binding obligations for both parties. A true offer must be made with the intent to be accepted immediately. For example, advertisements—like those on Craigslist—are usually not offers but invitations to negotiate. The criteria for an offer may vary depending on whether or not the person making it is considered a merchant.
2. Acceptance
Acceptance happens when the person receiving the offer (the offeree) agrees to its terms. This can be done explicitly (such as signing a contract), implicitly (through actions), or by other forms of agreement depending on the situation.
3. Consideration
Consideration refers to what each party gives or promises to give in exchange for the other’s performance. It’s the “price” of the agreement and can take many forms, including money, labor, goods, services, or even a promise not to do something that one has a legal right to do.
4. Meeting of the Minds
This final element—sometimes called the “mental requirement”—means both parties understand and agree to the essential terms of the contract. Many disputes arise from a lack of true agreement on what was intended. For instance, if someone enters into an agreement while intoxicated, they may later claim there was no valid meeting of the minds.
