Legally binding contracts are an essential part of the business world. Without them, many agreements would turn into messy situations that could prove costly for your company.
With that said, learning how to make a contract legal has become a vital skill for those engaging in regular business transactions. This article will tackle the definition of a legally binding contract and how you can make your documents aboveboard with Fill’s customizable templates.
Table of Contents
- What Is a Contract?
- 4 Elements of a Contract
- What Makes a Contract Legally Binding?
- Is It Legal to Write Your Own Contract?
- How to Create a Legally Binding Contract
- Learn How to Make a Contract Legal in Minutes With Fill
What Is a Contract?
A contract is a written or unwritten agreement between two parties intended to be legally enforceable. Entering a contract is an inevitable part of life. You’ll find that things like car loans, life insurance, rental properties, and employment all involve contracts in one form or another.
In the corporate world, you may encounter contracts more often than the average person. That’s because companies engage in business deals frequently.
4 Elements of a Contract
1. Offer
2. Consideration
3. Acceptance
4. Mutuality
What Makes a Contract Legally Binding?
- Each signing party agrees on the terms of an offer, with at least one party making the offer and another accepting it.
- There must be an exchange of value between at least two parties. We can define value as cash, services, products, or an intent to provide something significant.
Is it Legal to Write Your Own Contract?
How to Create a Legally Binding Contract
- You can start by visiting the Fill template gallery. There you’ll find dozens of industry-specific templates to get you on your way.
2. Next, sign up for Fill if you don’t already have an account. You may do so with your email address or Gmail account.
3. Once you have a Fill account, you may edit the template on your dashboard. In this guide, we used a standard employment contract.
4. The app will prompt you to enter the employer and prospective employee’s full name and email address. Fill in these and other optional details, then click Continue.
5. You will then enter the Fill dashboard. Read through the document and make necessary edits so the content fits your specific terms and requirements better.
6. After customizing the template, look to the Signer Fields section on the right side of the dashboard. Go through these fields one by one until you accomplish everything required. This part will allow you to assign fields to anyone you see fit.
7. Then, apply your electronic signature to formalize your endorsement of the contract and the terms you’ve set.
8. The final step involves sending out the document to the intended recipient. You may send the contract through Fill, export it as a PDF, or generate a clickable link.
That’s how simple it is to create a legally binding contract with Fill. Any document you produce through Fill should become legally valid in many jurisdictions. That is, provided you included the essential components of a legal agreement mentioned in the previous sections.
