Lawyers, what factors you keep in mind while drafting a contract?

Answer 1

Depends upon the nature of the contract as well as the parties themselves!

Does it involve any city, county, state, or federal laws, ordinances, rules, or regulations?

And if so, How?

And how do we plan to get around them if it does.

Are the parties competent to enter into this contract?

Is the contract itself legal or against any existing law or prohibited by any existing law?

Is the consideration fair to both parties so that a court reviewing it would not consider that one of the parties was being treated unfairly?

Is it within the Statute of Limitations?

Are both parties capable as well of willing of performing the requirements of the contract or should there be any "Penalty Provisions" inserted into it, and if so what for how much?

Is my client willing and able to pay me for all of my time, effort, and money that I may have to expend on legal research, etc. in drafting this contract?

Answer 2

It very much depends on the type of contract and the parties to the contract. Is it a business agreement, a consumer contract or something else such as a contract for the sale of property? Generic factors tend to be proper formation, intentions of the parties and of course some factors are subject to legality constraints. Contracts need to be well constructed and thought-out so that loopholes do not arise and what is in the contemplation of the parties is represented. Without knowledge of the specific contract or your reasons for requesting such information I'm afraid it is difficult to address the question thoroughly. Perhaps you could add some additional information?

Answer 3

1. object of the contract
2. consent of contracting parties
3. terms and conditions of the contracts
4. payment involved
5. breach of contract
etc.