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Agreement elaboration

Contract (Agreement) elaboration support from lawyer in Latvia for companies (like Limited Liability Companies) registered in Latvia and for induvidual private needs.

Process of contract elaboration

You will receive your contract according to valid contract practice and in accordance with existing laws in force in a new contractual relationship of Latvia.

Contract to be considered valid in Latvia and not void has to have at least 4 things - complete agreement between each other, essential elements of the contract, will to interconnect, in proper formulation.

Our contract and agreement elaboration services:

  • Price for purchase contract drafting - 35 LVL (50 EUR)
  • Price for lease contract drafting - 35 LVL (50 EUR)
    • Price for lease contract extension - 25 LVL (50 EUR)
  • Price for loan contract drafting - 45 LVL (50 EUR)

Write us to get contract drafting services.

NOTE: About other type of contract drafting or agreement elaboration contact us, please.

What is contract

A contract is an agreement having a lawful object entered into voluntarily by two or more parties, each of whom intends to create one or more legal obligations between or among them. The elements of a contract are offer and acceptance by competent persons having legal capacity who exchange consideration to create mutuality of obligation.

Contract type by significance:

  • Consesual - actual contracts
  • Reward - gratuitous
  • Unilateral - bilateral (and multilateral)
  • By economic target
  • Framework - addendum (additional agreement)
  • Equivalence - risk

Forms of contracts

Contracts are classified by their form as follows:

  • Purchase - sale agreement (barter, too)
  • Loan Agreement
  • Endowment contract
  • Tenancy agreement (Lease agreement, too)
  • Lending agreement
  • Heritage Agreement
  • Public contract
  • Service contracts:
    • Construction industry
    • Processing work
    • Home projection (eg. Interior design)
    • Information and advisory services
    • Treatment, medical care
    • Contract of carriage (eg. Trucking)
  • Authorization agreement

Typical types of contract:

Examples of typical types of contract:

  • Typical consumer contracts
    • Living space usage agreement
    • Purchase agreement
    • Outsource work principal
    • Consumer credit agreement
  • Typical commercial contracts
    • Franchise
    • Factoring
    • Leasing
    • Concession

When contract is needed

Contracts or agreements in written form is needed to help outline who has what obligation so each party knows what they're supposed to do. It's like a mutual check list you do this and I do that and we wind up at the right place, hopefully.

Contracts also identify what happens or could happen if you don't do what you're supposed to do, or worse yet if you decide mid-way you don't want to continue to to what you said you'd do. People who commit to something are entitled to the payment or performance they bargained for.

Contracts are not necessarily lengthy documents, yet lawyer help is needed, mostly. You pay me 5 Euros and I'll show you a first run movie in my theater is the basic contract you make when you buy a movie ticket. Now if the power goes out and they don't show you the movie, you have something of a breach of contract. But usually something beyond the theater's control excuses the behavior, and in that case the contract says if you're behavior is excused you try to put the other party in the same position as if the breach hadn't occurred. So, either refund the ticket price or give you the chance to see the movie at a later date. It may not be a perfect solution, but you can see how contracts function in real life.