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Sometimes, people get into agreements on a trust basis--just by shaking on it. However, they backed out in the middle of your agreed period. You should know that oral agreements, in the court of law, can be easily dismissed. It’s always best to have a written contract when you get into a legal battle.
Although most people find legal contracts daunting, it doesn’t have to be under seal. All it needs is for all the parties involved to draw up an agreement and sign. It’s called a simple contract. A simple contract usually stipulates the offer, consideration, and acceptance to make it valid and acceptable. These contracts can be made in the name of the business, sole proprietorship, or a limited liability company. It can be as detailed as you wish it could be or consist of all the basic requirements of your terms.
If you need more information about simple contracts, look no further! Template.net has a wide variety of simple contracts that you can refer to when creating your own. From loan agreement to payment agreement; from full employment contract to contract of service agreement, we have it all for you. It is easily customizable through our online editing tools' suggestive edits and it can be tailored to your specific needs. You can include details pertaining to your agreed-upon terms and conditions such as the roles and responsibilities, schedule and time frame, and more.
Doing business goes beyond shaking on it and celebrating. While it's all right, next time be sure to write it down and sign it. Visit Template.net for more examples of simple contracts.