Contracts Between Individuals
Experienced San Diego Contract Law Attorneys
What is unique about contracts between individuals?
In general, a contract between competent individuals is comprised of three basic components: (1) an offer, or counter-offer; (2) an acceptance of that offer, or counter-offer; and (3) consideration (i.e., the exchange of something of real or perceived value in return for something else of real or perceived value). Often, money from all or a portion of the consideration intended for exchange from one contracting party to another.
What are the differences between a written contract and an oral contract?
Generally speaking, contracts made through the spoken word are just as valid and legally enforceable as are written contracts, provided they can be proven in a court of law. However, as a practical matter, oral contracts are substantially more difficult to prove than their written counter-parts. Another key difference is the statute of limitation periods is also often shorter for oral contracts than for written contracts. For example, the statute of limitations in California is 4 years for written contracts, but just 2 years for oral contracts. There are also categories of contracts which must, by law, be in writing, and these are defined by the Statute of Frauds.
Why is it important to hire an attorney to draft a contract between individuals?
Before entering into a contract with another individual, we strongly urge you to call one of our highly qualified San Diego contract law attorneys. The Watkins Firm adopts a collaborative manner of practice, emphasizing client interaction in order to better shed light on what legal options and approaches will serve the client best. The Watkins Firm wants to be your San Diego Business Lawyer! Please call the office for an obligation-free consultation at 858-535-1511 or you may email us at email@example.com.