Me and a friend are about to enter into a small business venture together. We do not want to waste capital by paying for a solicitors time, however we would like to draft a contract between us. If we draft a script / intent and both sign it with witnesses present, along with the witnesses signature, will the contract be legally binding?
2007-05-29 02:54:49 · 3 answers · asked by gngdevelopments 2 in Politics & Government ➔ Law & Ethics
Sure, however, the real question that probably will arise in the future, when you guys have a falling out is, what the hell does your contract mean? The price you pay to have a clear and complete agreement as to each of your rights in any given situation, could be worth infinitely more than the cost of having a professional draft it.
2007-05-29 03:04:43 · answer #1 · answered by webned 6 · 0⤊ 0⤋
Yes. There is an offer and an acceptance, as well as an intent to be legally bound.
2007-05-29 10:00:31 · answer #2 · answered by Mark 7 · 0⤊ 0⤋
You should tell what state you are in because there are different stipulations in each state to make things binding or not.
2007-05-29 10:03:52 · answer #3 · answered by QueenLori 5 · 0⤊ 0⤋