Contracts

Ohio Contract Law

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Contracts are everywhere and are used to achieve a number of different objectives. You enter into a contract when you buy or sell a home or car, secure insurance, and get married. Because the law of contracts affects so many significant aspects of your life, it is important to know what a contract is, the obligations created by contract, and how contracts may be enforced.

In Ohio, a contract is a legally enforceable agreement between two (or more) competent persons to do, or to not do, a specific thing. A contract is more than just a promise or exchange of promises; rather, the promises must be given in exchange for something. Additionally, the terms of the contract must be specific enough that the parties understand their obligations.

For a contract to be enforceable, the parties to it must be “competent” to make it. This means a person cannot make a promise he or she cannot fulfill because of some legal or other disability. For example, a contract entered into with an insane person or a minor under the age of 18 is generally not enforceable.

Generally, contracts may be written or oral. However, Ohio Contract Law requires some contracts to be in writing. These types of contracts include prenuptial agreements, real estate contracts, many insurance policies, and commercial contracts for the purchase and sale of goods involving $500 or more.

If one party satisfies its contractual obligations and the other party does not (called a “breach”), the non-breaching party may sue the breaching party for the loss caused by the breach. In some instances, the non-breaching party may sue to force the breaching party to perform under the contract, or to have the contract canceled.

It makes sense to work with an Ohio contract law attorney before you enter into any type of contract. Creating and entering into a contract without having it reviewed by a contract lawyer may save a few dollars at the outset, but is generally more expensive down the line. At Hallowes & Ebbeskotte, LLC, we understand the nuances of contract law and can guide you in negotiating, entering into and enforcing both personal and commercial contracts. Before you enter into any agreements that will have a profound effect on your business, your life, and the lives of your loved ones, contact us to have our contract law attorneys ensure that your interests are protected and your objectives achieved.

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