Types of Contracts in Contract Law: What You Need to Know

You may have heard someone say that if you didn't document it, then it didn't happen. This is definitely something that is true in the world of contract law. Even though you may have a verbal agreement with someone, what will happen if you have a dispute with someone down the road? It would simply be a situation where your word has to go up against the word of the other party. To avoid this situation, you need to get it in writing.

That is where a contract can be helpful. Contracts come in many shapes and forms, and you need to make sure the contract says what you think it says. That is where a contract lawyer can be helpful.

What do you need to know about contract law in Florida? Take a look at a few important points below.

What Is Contract Law?

Contract law is a specific area of the law that specializes in contracts. Just as doctors specialize in certain areas of medicine, there are some lawyers who specialize in contract law.

Contract law focuses on making agreements that are legally binding. Then, contract law also enforces those agreements to make sure parties do what they say they will do. Agreements are an important part of everyday life, and you may sign an agreement with a business if you purchase something expensive.

Or, if you decide to work for someone, you will sign a contract that specifies the scope of your duties as well as your compensation. Essentially, a contract is a way of formalizing an agreement you make with another party. Both parties who sign the contract are expected to adhere to it.

How Can a Contract Lawyer Be Helpful?

If you have questions or concerns about a contract, you need to reach out to a contract lawyer for help. There are two main ways that a contract lawyer can help you. First, a contract lawyer can help you create a contract. Second, a contract lawyer can help you enforce a contract that you signed.

You need to work with a contract lawyer if you need help creating a contract. Even though you may understand what you want the contract to say, you need to make sure the contract says what you think it says. For example, if you write the contract on your own, you may unintentionally include one or several potential loopholes that someone could use to get out of the agreement. A lawyer understands how to write a contract so that it is airtight.

You also need to hire a contract lawyer if there are concerns related to a breach of contract. For example, another party may accuse you of breaching the contract, which could lead to numerous penalties. You need a contract lawyer to review the case and advocate for your rights.

Or, you may feel like the other party in the contract has breached the agreement. This is another situation where you need to reach out to a lawyer who can review the situation and make sure the other party does what they said they would do.

What Are the Most Common Types of Contracts?

Because there are so many types of contracts, it is helpful to work with a lawyer who has experience in this area. Some of the most common types of contracts include:

• Adhesion Contract: In this type of contract, one party usually has more control or leverage than the other party.
• Condition Contract: In a conditional contract, parties have to meet a number of conditions in order to fulfill the contract.
• Implied Contract: While the vast majority of contracts are written down, some agreements are verbal. These are harder to enforce, but an implied contract can also be reviewed by a contract lawyer.
• Fixed-Price Contract: Before a major project begins, such as a home renovation, you need to have a contract in place. A fixed-price contract sets the price for a specific project.
• Unconscionable Contract: This is a type of contract that is usually not enforceable. If one party has significantly more power than the other party, the contract could be ruled unjust.

These are just a few of the most common types of contracts. What happens if the contract is broken?

What Does a Breach of Contract Mean?

If one of the parties does not uphold their end of the agreement, they could be found to be in breach of contract. For example, if you hire someone to build a home theater for you, and they do not fulfill every part of the contract, they could be found to be in breach of contract. On the other hand, if they fulfilled all elements of the project, and you do not compensate them accordingly, you would be in breach of contract.

If there is a breach of contract situation, you can reach out to a contract lawyer who can help you. The lawyer may attempt to mediate the situation to find some sort of middle ground that will make all parties happy. Or, you could file a lawsuit against the other party and take them to court. This is not a decision that you should make on your own, and you need to work with a contract lawyer who can help you.

The penalty for breaching a contract can be significant. In some cases, the judge will order the other party to abide by the terms of the contract if possible. Then, the judge may also order punitive damages to punish the person for breaking the contract. Even though there are some situations where breaching a contract might be forgiven (such as a force majeure situation), this is not universal. This is why you need to reach out to a contract lawyer in Florida who can help you review the situation.

Count on Aaron Delgado and Associates for Help With Contract Law in Florida

It is important to make sure that all contracts say what you think they say before you decide to sign. It is also critical to make sure everyone involved in the contract abides by the agreement. That is where we can assist you. At Aaron Delgado and Associates, we have a significant amount of experience working with contracts in Florida.

As a team that specializes in contract law, we have the training and experience necessary to help you. Contact us today for a case consultation. It would be our honor to make sure your rights are defended.