Contract and Agreement Templates

There are four key elements for a contract to be valid: agreement, capacity, consideration, and intention.

The first key element is agreement, which happens when one party makes an offer and is wholly accepted by the other. This is often seen in templates for contracts where an offer stipulates the terms and conditions of the deal. The client or customer must clearly and explicitly communicate their acceptance of the terms. Once the offer is accepted, terms can no longer be amended or changed.

The next element that makes a contract valid is capacity. All involved parties must have the capacity to understand the terms and obligations stated in the contract. They must also give their full consent when entering into an agreement. Any signs of coercion, misrepresentation, or fraud can render the contract null and void.

For a contract to be valid, it should also have a consideration. Consideration is when a contract stipulates that there is an exchange of something of value. For instance, the service provider promises to render a service in exchange for a certain amount of money.

The last key element that ensures the validity of a contract is intention. All contracting parties should have the intent to enter into a legally binding contract. Different contracts can have varying ways of demonstrating intent.

At its most basic, a contract, such as a business agreement, may be deemed null and void if it does not contain all the key elements of a valid contract, which are agreement, capacity, consideration, and intention. These components should be clearly articulated in the contract documents. One missing element can invalidate the agreement. “Null and void” means that the contract, although duly signed by all parties, isn’t legally binding and enforceable in the first place.

There are also other cases that may nullify the validity of your contract. A contract may become null and void if the subject matter contains illegal activities. For example, Person A signs a contract with Person B to launder money. If one party fails to fulfill its obligation, the other party also has no legal recourse since the agreement is unlawful.

Additionally, if the terms of the contract are vague or ambiguous to the point where it confuses the parties concerned, the contract can become invalid. For instance, the author of the contract stipulated that for the services rendered, he or she is entitled to receive compensation of 100 dollars. The term is ambiguous as the author didn’t specify the currency — it could be Australian or Canadian dollars instead of US dollars.

A contract may also be nullified if it is virtually impossible to follow the agreed-upon terms. Moreover, if one party discovers that the other intentionally concealed important information or details, such can be construed as fraudulent, thus invalidating the contract.

On the other hand, some agreement terms are considered voidable, which means that it’s valid and enforceable, but certain circumstances during the duration agreement arise and deem them null and void. For example, a breach of the contract completely nullifies its validity. There are various ways in which a contract can be breached such as when one party fails to fulfill their agreed-upon obligations, among others. A contract may also be considered voidable if it’s proven that one of the parties was under undue influence.

While there is no denying that contracts play an integral role in the growth and success of your business, writing and drafting them can be tedious. Fortunately, you do not always have to start from scratch should a need for a contract arise. You can take advantage of free contract templates online to streamline your contract management workflow.

There are a handful of benefits to using a contract template. For one, it significantly speeds up the contract process, saving you valuable time. Instead of authoring a new contract, you only have to supply the necessary information on the blank contract template. Most business contract templates specify the fields that require more specific detail, such as the name of the parties involved, the date, the amount of money involved, and so on.

Contract templates also reduce the risk of human errors and non-compliance. A library of preapproved blank contract agreements ensures that the documents have been thoroughly reviewed. As you only need to alter certain sections of the document, there is a lesser chance of typographical errors and the like.

No matter the size of your organization, you are bound to deal with hundreds of contracts in your lifetime. Drafting a new one every time a new deal comes up can exhaust your company’s financial resources. Instead, use free contract templates to help reduce costs.

Fill’s carefully curated collection of contract templates is designed to simplify your contract-writing process. Whether you need an employment contract, lease agreement, postnuptial agreement, or small business contract template, Fill has an entire library of templates that you can use for free. This includes service contracts and a versatile contractor template. With Fill, your contract would be ready in no time.

As a contract creator, here’s how you can use any of our contract templates:

1. Create an account with Fill. If you already have one, log in to your account.
2. Select the template you want to use. We have a wide array of templates that will surely suit your needs.
3. Click Preview, then click Use This Template – Free. You will be redirected to Fill’s dashboard.
4. Supply the necessary information required, such as the company name and the signer’s email address. You can also set the deadline for when you wish the document to be completed.
5. Click Continue to proceed.
6. Add fillable fields to the document. You can simply drag and drop the appropriate fields to their proper place.
7. Don’t forget to affix your electronic signature and fill out the document.
8. Review the document before sending it by clicking the Review As button at the bottom right of the screen.
9. If everything looks ready to go, click Send. The other party should receive an email notification.

Contracts are more than just formality. They are legally binding documents that protect your organization’s best interests and mitigate any risks that might come with the deal. Thus, they need to be treated with utmost care. So when you enter into any kind of agreement, it is always best that all contracting parties receive a copy of the signed contract.

In some countries, laws mandate that all those who are involved in the agreement must possess a copy of the contract. Keeping your contract’s physical or digital copy helps protect your business or organization. It allows you to revisit the terms and conditions of the agreement should you need to clarify anything or refresh your memory. It also comes in handy in the unfortunate event of breaches or disputes.

As you are more likely to deal with hundreds of contracts, your organization needs to develop a document-retention policy to help you determine how long you need to keep contracts on file. Some keep copies of their contracts for a year after the agreement has concluded or terminated, while others choose to save documents for much longer. You can also archive older contracts digitally to save space and for easier retrieval.

No matter the size and scale of your business, or even if you are self-employed, perhaps as an independent contractor, having easy access to contract templates, such as a service contract, offers many advantages. Utilizing contract templates and adhering to best practices in contract creation instead of writing agreements from scratch allows you to save time and reduce costs on legal fees and other resources. If you want a more efficient contract management system, you need contract templates.

So, where can you get free contract templates? Nowadays, it’s relatively easy to get hold of business contract templates. There are loads of resources available online at your fingertips. However, you still need to practice caution when looking for free contract templates on the internet. Ensure you read the contracts thoroughly to verify that they contain the essential elements of a valid contract.

Suppose you are looking for a reliable source of free contract templates that you can use for your business. In that case, Fill has a rich library of templates for all your needs, from employment contracts, business partnership agreements, and vehicle bills of sale, to licensing agreements and memorandum of agreements. All you need to do to access any of these templates is to sign up with Fill and create your account. You can add fillable fields, affix your electronic signature, and securely send them to other concerned parties on the same application.