TransactionsTransactional work involves both the drafting and review of legal documents, often contracts. Contracts basically amount to private laws that the contracting parties are agreeing to apply to themselves in exchange for the benefits they believe they will receive from the deal. Having a competent attorney draft your contract can make a world of difference. Few clients would think to include all of the terms that an attorney would draft into an agreement. This is because an attorney is trained to evaluate what happens if the deal falls through or is breached by one of the parties.
Issues in TransactionsIt might seem shocking to the average member of society, but one of the issues that is regularly litigated over is whether a contract exists at all. Remembering to include all of the required elements for a contract to be formed in the first place is just the beginning.
Another issue that regularly arises in transactions is the common misconception that only written agreements are legally enforceable. This is not the case. In many cases, an oral agreement is just as binding as a written contract, although oral agreements are more prone to result in litigation due to the uncertainty created when terms are not written down.
Enforceability is a third issue that arises in transactions. It is common to find people who have included provisions into contracts that are not legally enforceable. Knowing when that is the case and what to do about it, helps make a good transactional attorney.