CONTRACT FORMATION, INTERPRETATION, DISPUTE, RESOLUTION & LITIGATION
WHY HIRE US
Whether you are just preparing to draft an agreement, starting negotiations or contemplating going to court, Saunders Law is here to assist you.
If you need to quickly contact a lawyer, don’t hesitate to call our firm and directly speak with a lawyer. Otherwise, feel free to fill our Attorney Contact Form and schedule a consultation with a Park City based Contract Law attorney.
Contract Drafting and Review
While most people tend to think well of those individuals or companies with whom they are choosing to do business, sometimes those individuals and companies fail to conduct themselves in an ethical and straight-forward manner. Therefore, when entering into an agreement, you should never rely solely on a hand-shake or the other person’s word, especially not the other person’s attorney’s word. Even if you have a long standing business relationship with the party that you are doing business with, misunderstandings can happen and it is always best to have the actual agreement in writing.
Here at Saunders Law, an attorney can draft for you an unambiguous and detailed contract that accurately reflects your agreement. Additionally, our legal team will review and advise you on any contract that you are asked to sign.
Interpreting Contractual Language
Given that differing interpretations of contractual language is the single largest source of contract litigation between business firms (Yale Law Journal), having an attorney review the language in your contract, both in terms of the actual textual content and in the context that language is being used, can be invaluable while drafting a contract or in devising a litigation strategy. Of course, in an ideal world, the parties’ intent at the time the contract was made would control the contract. However, determining the parties’ intent years after the contract was formed can be difficult; therefore, courts will usually decide the dispute based solely on the text of the contract and the context in which it was used.
Contract Dispute Resolution and Litigation
Most contract disputes can be avoided simply by initially drafting an unambiguous and detailed contract that accurately reflects the parties’ agreement. However, some contractual disputes are inevitable due to one party’s intentional breach. When confronted with a dispute over a contract provision or a party’s unwillingness to perform, an experienced attorney can guide you through the many legal options available to you or your company.
While some attorneys will attempt to steer you towards litigation due to the high legal fees associated with going to trial, the legal team at Saunders Law will analyze your particular situation, the desired remedy, and your potential legal exposure before recommending a particular course of action. Our legal staff is very knowledgeable when it comes to the various forms of Alternative Dispute Resolution. An attorney at our firm will walk you through the benefits and negatives of choosing to resolve your dispute through negotiation, mediation, arbitration, or litigation.
Real Estate Purchase Contract
Real Estate Purchase Contract
In Utah, the sale and purchase of real estate are accomplished through the use of a real estate purchase contract. The real estate purchase contract (which is commonly referred to as a “REPC”) is a binding contract between the purchaser and seller that details the obligations of the parties. Specifically, the REPC identifies the property to be purchased, the purchase price, earnest money, the buyer’s conditions to purchase the property (i.e. due diligence, appraisal, and financing), seller’s disclosures, contract deadlines, and other various terms and conditions that are part of the agreement.
Given the complexity of the standard real estate transaction, both the buyer and seller should hire an attorney to assist them in understanding the language and key terms used in the REPC. For instance, when purchasing a property, an experienced real estate investor will typically insist that the agreement provide various contingencies. Consequently, the seller may not realize that the contingencies that were added to the contract grant the buyer specific rights to cancel the REPC without liability. Retaining an experienced real estate lawyer to assist in the review of the contract will assist the buyer and seller in understanding the obligations and rights under the contract.
Next, in Utah, real estate agents are limited to using the REPC form approved by the Utah Division of Real Estate. Frequently, this form does not perfectly fit the deal that was struck between the parties and the real estate agent is forced to attempt to alter the REPC through the use of an addendum. Commonly, the use of addenda to alter the contract results in confusion between the parties (which can lead to litigation). Hiring an attorney to draft a REPC that accurately reflects the parties’ intentions will alleviate that confusion and set the framework for an uneventful transaction.