Virginia Contract Law: Keeping Track Of Your Interests
Friedlander & Friedlander P.C. practices contract law to help ensure that clients’ rights are protected any time they enter a legally binding agreement. The firm serves individuals and businesses in Fairfax County and throughout Northern Virginia with analysis, drafting and review of a wide variety contracts.
The best practice is to have an attorney review any contract you are considering signing. Contract lawyers are trained in spotting the type of language and proposed arrangements not in your favor:
- Price changes for goods or services
- Dual ownership rights
- Third party rights and interests
- Late payment penalties and finance charges
- Liability limits
- Renewal clauses
- Confidentiality and non-disclosure provisions
- Liquidated damages clauses
- Subcontractor agreements
- Termination requirements and penalties
Types Of Legal Agreements The Firm Handles
Friedlander & Friedlander P.C. helps clients find the right legal agreements that help them run a better business and protect their legal interests. The firm’s attorneys draft and review a variety of common contracts for area business and individual clients:
- Purchase orders
- Warranty agreements
- Leases — real property and equipment
- Security agreements
- Franchise agreements
- Joint venture agreements
- Agreements to sell businesses
- Employee agreements
- Noncompete
- Consulting
- Distributor
- Sales representative
- Independent contractor
The best kind of contract is one that is fair and honors the interests of all parties involved. When you need an experienced legal counselor to help you understand the mandates of contract law, rely on Friedlander & Friedlander P.C. Email the firm today to schedule a consultation.
Frequently Asked Questions About Virginia Contract Agreements
The Fairfax County contract law attorneys at Friedlander & Friedlander P.C., can answer any of the questions you may have about contract agreements. Common questions that clients have include:
What are the essential elements of a legally binding contract in Virginia?
When establishing a legally binding contract in Virginia, it is essential to include six core elements. These six essential elements include:
- Offer: One party makes a proposal to the other party with clear terms or conditions.
- Acceptance: The other party agrees to the terms of the proposed offer. Alternatively, they may propose an alternative or make a “counteroffer.”
- Consideration: The agreement must outline the exchange of something of value between the parties. For example, the parties can agree to an exchange of money for goods or services.
- Meeting of the minds: Both parties must have an understanding of the intent of a contract and agree to the same terms and obligations.
- Capacity: Both parties must be of sound mind, legal age and mental capacity to fully understand the contractual obligations they are agreeing to fulfil.
- Legality: The contractual obligations must be legal. Any terms that violate state and federal laws are not contractually enforceable.
If any of these elements are missing when a contract is formed, Virginia courts will likely not find it enforceable. The attorneys at Friedlander & Friedlander P.C., can help establish the essential elements of a legally binding contract.
What are the common pitfalls to avoid when drafting a business contract?
Individuals and businesses should be aware of common mistakes when drafting a business contract that can create liability issues, disputes and financial damages. Some of the most common types of contractual mistakes include:
- Ambiguous or contradictory language
- Missing essential terms
- Premade contract templates
- Improper signatures
- Ignoring state-specific laws
Our attorneys at Friedlander & Friedlander P.C., can help address common mistakes made when drafting a business contract and prevent numerous complications.
Are oral business contracts enforceable in Virginia? If so, under what circumstances?
Generally, yes, oral business contracts can be enforced so long as they have clear terms (including a definite offer, acceptance and consideration) and do not fall under a Statute of Frauds exception. Some agreements that fall under the Statute of Frauds include real estate sales and leases over a year, the sale of goods for more than $500 and agreements that cannot be fulfilled within a single year’s time. However, oral contracts have a shorter statute of limitations for breaches and are often difficult to prove.