Me and a friend are about to enter into a small business venture together. We do not want to waste capital by paying for a solicitors time, however we would like to draft a contract between us. If we draft a script / intent and both sign it with witnesses present, along with the witnesses signature, will the contract be legally binding?
Answer by Mark
Yes. There is an offer and an acceptance, as well as an intent to be legally bound.
Answer by QueenLori
You should tell what state you are in because there are different stipulations in each state to make things binding or not.
Answer by webned
Sure, however, the real question that probably will arise in the future, when you guys have a falling out is, what the hell does your contract mean? The price you pay to have a clear and complete agreement as to each of your rights in any given situation, could be worth infinitely more than the cost of having a professional draft it.
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Orignal From: Private Contract?
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