When writing a contract between two people, one must propose an exchange of something of value from each party. According to the Cornell School of Law, the proposals must be within each party's capacity and not in breach of any laws for the contract to become legally binding.Continue Reading
A standard contract between two parties plainly states the good or service that each party is promising to the other and a description of what will happen if the promise is not upheld. A contract is an agreement, meaning that all parties must consent to its terms for it to take effect. The author of the contract must write terms that are clear so that each party knows exactly what they are promising to the other. If the terms are not clear, then the contract often has to be revised or amended. The U.S. Small Business Association states that contracts are rarely accepted immediately without negotiations and discussions. Individuals should consult a lawyer before signing any contract.
When a contract is finished and agreed upon, both parties sign it, sometimes with a notary public present to notarize the contract. According to the National Notary Association, a notary public acts as an impartial witness and verifies the authenticity and validity of the contract.Learn more about Law
If two people claim the same dependent, the tax filers must contact the Internal Revenue Service (IRS) support line to explain the errors, according to efile.com. The tax filers must mail another income tax form along with any additional required forms and the IRS conducts an audit of both returns and responds with a decision. The entire process can take from eight to twelve weeks.Full Answer >
A contract line item number is used to specify the commodities being acquired for traceable accounting classification on a federal government contract. A CLIN is usually located in section B of the contract, and it is vital for reporting and billing purposes within the contractor's accounting system.Full Answer >
To write a prenuptial agreement, contact an attorney who specializes in prenuptial agreements to draw up a contract stating how assets should be distributed in the event of a divorce. Partners should discuss the prenuptial agreement and be open about financial matters, advises Bankrate.com.Full Answer >
Some of the most common instances where a person would need a lawyer would include when a person needs a divorce, enters into any kind of contract, changes their personal status, alters or creates a will, purchases or sells real estate, when financial problems are overwhelming, when arrested or when a person is in an accident, according to the Illinois State Bar Association. It is also popular to seek the help of a lawyer when a person is beginning a new business and needs help with issues such as the legal formation of the business or workplace issues.Full Answer >