Think about the specific purposes to be achieved under the contract. Then identify and itemize as many of the objectives as possible and recite them in the contract.
Establish the price to be paid or received for the performance of the contract and your minimum counter-offer to any quoted price. Do this in the negotiations.
Establish the terms of any financing, including the amount of any down payment, interest rates, dates for each installment payment, length of payment period, prepayments, contingencies for defaults and performance.
Identify and list both forseeeable and/or unforseeable events that could interfere with your performance of the contract, such as weather conditions, labor slowdowns, stoppages, increases in material costs (ie., oil, gasoline).
Recite what the economic and/or legal consequences will be to either party should there be a breach of the contract.
When all of these issues have been considered, they should be discussed with an experienced and qualified NJ contract law attorney to decide if they are important enough to include in your contract. Often a NJ businessman or NJ businesswoman gets himself/herself into a contract and then is unable to get out of it, but expects their attorney to do it for them.
Once a valid contract has been made in New Jersey, often times there is not much an attorney can do, unless he/she has the opportunity to anticipate and prepare for potential issues in the draft document.
Now That You Have a General Understanding of New Jersey
Contract Basics You Need to Know the Following:
Contracts are governed by New Jersey statutes and case law. The following subheadings will be addressed to help you understand how NJ law looks at contracts.
1. The offer and acceptance
2. The importance of consideration to the validity of a NJ contract
3. Defenses to the enforcement of a NJ contract
4. Termination of contracts in New Jersey
5. Breach of contract and remedies for a breach of contract under NJ law
6. Assigning a contract legally in NJ
7. Amending and modifying an existing NJ contract
If you have any questions about New Jersey contract law, then please contact Fredrick P. Niemann, Esq. at fniemann@hnlawfirm.com or call him toll-free at (855) 376-5291.
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Fredrick P. Niemann, Esq.,
a NJ Contract Attorney
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NJ Contract Law Attorney serving these New Jersey Counties:
Monmouth County, Ocean County, Essex County, Cape May County,
Camden County, Mercer County, Middlesex County, Bergen County, Morris
County, Burlington County, Union County, Somerset County, Hudson County,
Passaic County
NJ Contract Attorney | Contract Law in New Jersey | Contract Lawyer in NJ | Making
a NJ Contract | Contract NJ | Contract Checklist
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