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601-3901 Highway 7 West. Vaughan, ON L4L 8L5
p: 416-639-LION (5466)
or contact us online!
Lets face it, nowadays a contract is necessary in any financial arrangement.
We can help you understand or draft your contract.
The most basic rule of contract law is that a legal contract exists when one party makes an offer and the other party accepts it. For most types of contracts, this can be done either orally or in writing. It is always best to have a written contract in place to avoid future misunderstandings.
A contract is a legally binding agreement between two or more parties and describes the rights and obligations of the parties to the contract. Where a contract has been properly drafted and signed by the parties to the contract, and where the terms are clear and the contract is not for an illegal purpose, then it is likely that a Canadian Court will consider the contract valid and enforceable.
Most contracts only need to contain two elements to be legally valid: All parties must be in agreement (after an offer has been made by one party and accepted by the other). Something of value must be exchanged -- such as cash, services, or goods (or a promise to exchange such an item) -- for something else of value. Only the parties to the contract can sue or be sued under the terms of that contract.
Before you sign a contract
As a general rule, Canadian courts expect that if you have signed a contract, you have agreed to it and you will therefore be bound by its terms. You may not be protected if you claim you did not understand what you were signing.Therefore, always make sure you understand a contract before signing it.
Book a free 30min telephone appointment today to discuss your options. Denise can be contacted by via email at firstname.lastname@example.org or by telephone at 416-639-5466