How to Write a Contract Agreement

Video Transcript

"You and a business associate have recently reached an agreement. And now you're wondering whether you should put this in writing and actually come up with a contract agreement. Hello, I'm Robert Todd and I'm here to answer the question, how to write a contract agreement? Well, the number one rule of writing a contract agreement is obviously, put it in writing. Reduce it to writing, in other words put it on paper, and make sure that it's signed. In a contract agreement, you want to make sure that you are naming the parties. And in identifying and naming the parties, you want to be sure and set forth, what those parties are agreeing to do. Who's agreeing to do what, in consideration for what? What is the other party going to do, for that other party's agreement, to do what, in consideration for what? You want to also specify, what is the term of this agreement? How long is this agreement going to last, when does it start, when does it end? You want to address where notices can be sent, if someone wants to try to change the terms of the agreement, or stop the agreement. And finally, you want be sure that all parties sign at the agreement to reflect that they are agreeing to this written agreement. And if you have any doubts of whether or not, what you have put together is a valid written contract, consult an attorney. I'm Robert Todd and thank you for watching."