Contract Law Contracts 101

Contract Law

Contract Law. Whether it’s writing the perfect contract for your business needs or litigating an already drafted contract that you currently have, the Story Law Firm can help you. We have litigated numerous contracts involving complex clauses and have taken these contracts all the way to successful outcomes, even in front of a jury. Not only have we litigated contracts, we’ve also won punitive damages (damages because of the wrong act done by the other breaching party.)

When you need an attorney to help you understand or draft a contract, or worse, when you find yourself in the unfortunate situation of having to litigate a contract, you need an expert. The Story Law Firm can help you understand what a contract means and ensure that you get what you contracted for. Contact us today to set up your initial consultation for drafting the perfect contract for your situation or for a consultation involving the potential litigation over a contract you currently have in place.

Contracts 101

Contracts 101 – Remember, in any valid contract in Arkansas you must have three things:

1. An offer to purchase or to have services performed. This must be clearly spelled out in order to have a valid Arkansas contract.

2. Acceptance – when both parties to the contract agree on the contract and what it is supposed to accomplish. This is not just a signature but it’s a mutual understanding of the contract and the intent to move forward under that contract.

3. Consideration – the value that the parties are exchanging under the contract. This could be money for services, services for products, or products for money. In any of these situations, it is always imperative that the contract clearly spells out what type of consideration is being given.

These are the basics of contract law in Arkansas. For more details and specific provisions that can be included in your contract, please contact the Story Law Firm.

Use of this website does not establish an attorney client relationship between you and the Story Law Firm, PLLC. Please call (479) 443-3700 to set up an appointment with one of our attorneys.

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