What is an agreement in legal terms?

From a legal standpoint, an “agreement” is a mutual understanding between two or more persons. That agreement is not legally binding. A great example of this would be a letter of intent, where both parties want to ensure a proper understanding before they commit to a contract. To make an agreement legally binding, something of value — called consideration — must be exchanged as part of the agreement. If no consideration is provided, then an agreement is not legally binding. However, it’s important to note that contracts are often called agreements. In the business world, signing an “agreement” is often considered common parlance for signing a contract.

Is every agreement a contract?

No, but contracts are often called agreements. An agreement becomes a contract when: It offers terms with unconditional acceptance Involves parties with the legal capacity to understand the terms and obligations of the agreement Exchanges something of value It indicates that the agreement is legally binding When those terms are met, the agreement is a contract. From a business perspective, it is generally assumed that both parties intended to enter into a contract. Keep in mind that the item of value (consideration) being exchanged is often reflected by a change in the original position of either party before entering into the contract. While consideration can be something as simple as an exchange of money for goods, consideration might also be intangible. For example: If your small business promises to deliver 20 hours of work to a subcontractor per week for a set period of time — thereby requiring the subcontractor to commit to 20 hours of exclusive work for your organization each week for the duration of the contract — that guarantee of work would be deemed “consideration” in the eyes of a court. Assuming that your agreement doesn’t include clauses about variable hours, you may be responsible for paying the subcontractor for 20 hours worth of work each week whether or not you have the work to deliver to them. If you’re ever unsure about what may or may not be considered a contract, it’s always best to seek legal advice before entering into any kind of agreement with an outside party.

Do my agreements require a signature?

While it’s a common misconception, neither contracts nor agreements require a signature in order to become legally binding. In fact, legally binding contracts don’t even need to be written down, as evidenced by handshake deals and oral contracts! However, it’s always best (and safer) to get everything in writing in order to prevent misunderstandings or miscommunication. Take the time to collect the right contact information, define the terms of an agreement, and create delivery and payment schedules that make sense before signing anything. Creating a high-quality legal document could save both parties thousands in legal fees later on. PandaDoc makes this easy by allowing parties to create contracts, negotiate terms, and sign documents using legally binding electronic signatures all inside the same platform. Whether you can get by with a one-page service agreement or you need a vetted legal document with contingencies at every step, PandaDoc has you covered.

Is an agreement binding?

Once something of value is exchanged between knowing parties, an agreement becomes binding. This item of value is called consideration, and this practice is true even outside the business world. Real estate operates on housing contracts, room rental agreements, sublease agreements, roommate agreements, and more. When renters sign a lease, often for a 12-month rental, they are entering into a binding agreement by consenting to pay something of value (money) for the right to live in a space for a set period of time. Binding agreements are prevalent in every aspect of societal life. Even child custody and separation agreements are considered a type of contract based on the laws of the state.

How do I write an agreement?

In order to write an effective agreement, you’ll need to determine if you intend it to be legally binding and what you plan to offer. In the case of real estate, the offer is straightforward. However, for many business operations, that offer may not be as clear. Sales agreements or payment agreements often can’t be written as a boilerplate and require negotiation. This is why proposals and quotes are common before a contract is created. No matter what kind of agreement you want to create, the PandaDoc template library has hundreds of examples to help you get started. Browse through our library of contract templates and find one that suits your needs. After you finish your draft, we recommend that you consult legal experts to help you finalize more sensitive contracts. Once you’ve created an effective agreement, you can upload it to the PandaDoc editor and use our software to insert custom variables and fields for electronic signatures before sending your documents to your service providers and employees.

What kind of templates can I create with PandaDoc?

The possibilities are limitless. Because any document in PandaDoc can become a template, you can create templates from simple invoices to complex services agreements. This can include: Confidentiality agreement templates Rental agreement templates Invoice templates Purchase agreement templates Standard agency agreement template NDA and confidentiality templates And more To expedite services further, you can even save modified versions of our documents inside your PandaDoc library as personal contract templates. Creating complex legal agreement templates or consulting agreement templates can save hours of time when onboarding new clients.

Can I use your agreement templates in Word?

Yes and no. While you can download our templates in a PDF format and import them into Microsoft Word, they won’t be fully editable as they would be in PandaDoc. Using the PandaDoc document editor, you can write out your contract details, format the document in a way that represents your business, and even use specialized tools to set pricing and collect payment details. By editing our templates in Word, you may find yourself limited in terms of document creation.

Agreement templates

Professionally designed agreements are a key ingredient in any business relationship. Whether you’re a freelancer, a large corporation, or something in between, our agreement templates can help you protect your legal rights while saving time during document creation. Download any template today to get started.

Maryland Room Rental Agreement

In Maryland, landlords must have a written lease for rental lasting more than a year. However, we recommend always having a written agreement, even if it lasts less than a year. A Maryland room rental agreement is only required when a landlord rents out a single room in their property. As such, there are various terms you must include to ensure multiple tenants get along well and respect each other and your building.

Massachusetts Room Rental Agreement

In Massachusetts, landlords must hold the appropriate licenses to rent a rooming house. A rooming house is basically a dwelling where the landlord sublets rooms to four or more people. If you’re simply renting a room in your home, then you might not have to get licenses.

Minnesota Room Rental Agreement

Rental agreements in Minnesota can be written or oral, but we recommend having a written contract. It’s more enforceable and means you don’t need to deal with “he said, she said” issues. You can refer to the document and ensure all house rules and terms are clearly stated. With a written Minnesota room rental agreement, you eliminate misunderstandings. However, there are a few legal aspects you must consider.

Mississippi Room Rental Agreement

A Mississippi Room Rental Agreement is a formal, legally recognized agreement between the landlord and the tenant. The landlord, the original premises owner, wishes to rent out a room to the tenant. Once this agreement is implemented, it mandates specific duties and obligations that both parties must adhere to.

Missouri Room Rental Agreement

A Missouri Room Rental Agreement is a formal, legally binding arrangement between a landlord and the prospective tenant who plans to lease a room. This agreement comprehensively delineates the responsibilities and expectations of the owner and the tenant. Once signed, this agreement becomes operative and imposes specific obligations on the named parties.

Montana Room Rental Agreement

A Montana Room Rental Agreement is a formal legal document that establishes a binding relationship between an individual who holds ownership or leasehold rights to a residential property (referred to as the “landlord” or “property owner”) and another individual who is renting a designated room within that property (known as the “tenant”).

Nevada Room Rental Agreement

When leasing a section or a room of an occupied house, having a Nevada room rental agreement is helpful. This contract articulates the relationship between the tenant and the landlord. This can include spelling out payment terms and other aspects, such as the landlord’s right to access.

New Hampshire Room Rental Agreement

A New Hampshire room rental agreement must be signed for a successful tenancy in the Granite State. This legal document ensures that the landlord accords you fair treatment. It also spells out the course of action to resolve disputes during the occupation period.

New Jersey Room Rental Agreement

When leasing a room, having a New Jersey room rental agreement is paramount. Even if this contract isn’t notarized, it lays the groundwork for your stay. Typically signed when moving in, it details the landlord and tenant and the agreed-upon terms.

New Mexico Room Rental Agreement

A New Mexico room rental agreement is a vital document outlining the state’s terms and conditions of renting. It clearly understands landlords’ and tenants’ rights and responsibilities. Typically, it comprises details such as the names of the landlord and tenant, the rental property’s address, the duration of the rental period, and the agreed-upon rent amount.

North Dakota Room Rental Agreement

The North Dakota Room Rental Agreement is a legally enforceable agreement between a landlord and an individual who plans to rent a room. The responsibilities and expectations of the owner and the tenant are comprehensively articulated in this document. The contract becomes operative and obligatory for the named parties upon its signing.

Oklahoma Room Rental Agreement

An Oklahoma Room Rental Agreement is a formal and legally enforceable contract between two parties: the landlord, who is the property owner, and one or more tenants, who are the individuals to whom the owner wishes to lease a room(s) on their property.

Oregon Room Rental Agreement

An Oregon Room Rental Agreement is a formal document that sets the rules for individuals sharing a living space in Oregon. This agreement details the expectations and responsibilities of each tenant, including their roles in maintaining the home, paying rent, and handling utilities.

Rhode Island Room Rental Agreement

A Rhode Island Room Rental Agreement is a legally enforceable contract between the owner and a tenant or tenants who intend to lease a room(s). These duties and obligations are binding, and adherence to them is expected from the owner and the tenant(s). The agreement protects all parties’ interests and ensures a harmonious rental relationship.

South Carolina Room Rental Agreement

A South Carolina Room Rental Agreement is a legally binding contract between a landlord and a tenant or tenants who plan to lease a room on a property. The responsibilities and expectations of the owner and the tenant are comprehensively stated in this document. The contract becomes operative and obligatory for both parties upon signing.

South Dakota Room Rental Agreement

South Dakota courts accept oral and written agreements, but it’s always better to have a written contract. It helps both parties know where they stand. It also makes it much easier to refer to any rules in the agreement when there’s a disagreement.

Tennessee Room Rental Agreement

Landlords and tenants can rent rooms in Tennessee without any formal written agreement. However, if there are disputes or misunderstandings about the rules, it’s best to have a written Tennessee room rental agreement. With this written agreement, both parties can ensure they know their responsibilities, and it’s easier to use in court.

Utah Room Rental Agreement

The Utah Room Rental Agreement is used when a landlord wishes to rent out a room within their property to a tenant, outlining the terms and conditions of the rental arrangement, including rent, utilities, and any specific rules or restrictions. This agreement is particularly useful for homeowners looking to generate additional income by leasing out spare rooms.

Vermont Room Rental Agreement

In Vermont, room rentals and other residential leases don’t need to be in writing. The same obligations and rights will apply to oral agreements. However, checking and remembering this information is easier if you have a written contract. You can also ensure you don’t miss essential details in the agreement. That’s why we look at the legal aspects you must consider in a Vermont room rental agreement.

Washington Room Rental Agreement

For tenants in the capital, understanding the features of a Washington room rental agreement is important. This legal document delineated the roles and responsibilities of each party during the tenancy. Furthermore, when disputes arise, it provides guidance in case of conflict.

West Virginia Room Rental Agreement

The backbone of a successful tenancy is having a West Virginia room rental agreement. Once all parties sign this contract, they commit to observe the protections accorded to each party. Moreover, a room rental agreement specifies minor details like tenancy access.

Wisconsin Room Rental Agreement

As a landlord or tenant, signing a Wisconsin room rental agreement at the beginning of the tenancy is essential. This crucial contract specifies the parties involved and comprises other crucial segments. It outlines payment terms, spells out accepted activities, and even dictates access rights.

Wyoming Room Rental Agreement

A Wyoming room rental agreement serves as a foundational document outlining the terms and conditions of a rental arrangement. Typically entered between a landlord and tenant for a specific room within a property. It’s utilized when a landlord wishes to rent out a room to a tenant, providing clarity on the rights and responsibilities of both parties. It’s essential to use this agreement at the commencement of the tenancy to establish clear expectations and prevent potential disputes.

Nebraska Room Rental Agreement

A Nebraska Room Rental Agreement is a formal legal document establishing a contractual relationship between a landlord and the tenant, the owner who intends to lease a room. This contract meticulously details the owner and occupant’s anticipations and duties. Once this agreement is implemented, it assigns particular responsibilities and obligations to all parties, ensuring a clear understanding of their roles.

Alaska Room Rental Agreement

Renting a room in Alaska can be easier and more difficult than leasing an apartment or property. Use our Alaska Room Rental Agreement template when leasing a single room. It differs from a roommate agreement, which is generally an informal contract between roommates. Instead, this agreement is typically between the landlord of the unit and a tenant who wants to rent one of the rooms in the unit.

Rhode Island Apartment Lease Agreement

Understanding the structure of a Rhode Island apartment lease agreement is essential for landlords and tenants. This agreement, which comprises the parties’ identities and engagement terms, is key to the tenancy relationship. By unraveling its complexities, tenants can ensure they get fair treatment. On the other hand, landlords can ensure they conduct above-board affairs.

Rhode Island Apartment Lease Agreement

New Jersey Apartment Lease Agreement

To ensure you adhere to state laws, our New Jersey Apartment Lease Agreement template will assist you with a lawful document.

Apartment Lease Agreement Florida

Considering renting out your apartment in Florida? Make sure your agreement adheres to state laws by utilizing this template for an apartment lease agreement.

Room Rental Agreement Florida

A room rental agreement in Florida is used in this state to outline the responsibilities of both the landlord and lessee as it relates to leasing the room.

Apartment Lease Agreement New York

Planning to rent out your apartment in New York? Employ this apartment lease agreement tailored for New York to ensure compliance with all legal regulations.

Lease-to-Purchase Agreement New York

A New York lease-to-purchase agreement is also known as a rent-to-own agreement. This legal document outlines the terms of a transaction.

Lease to Purchase Agreement Illinois

An Illinois lease-to-purchase agreement is a legal contract where a tenant leases a property with an option to buy it later.

Lease-to-Purchase Agreement Michigan

Lease purchase agreements can provide flexible financing for major assets in Michigan, but specific laws must be followed.

Lease-to-Purchase Agreement Virginia

Lease purchase agreements (LPA) in Virginia, also known as rent-to-own agreements, allow consumers to rent property for personal use with the option to purchase.

Lease-to-Purchase Agreement Florida

A lease-to-purchase agreement in Florida is a legally binding contract. This agreement is entered into between a landlord and a tenant, with the tenant having the option to purchase the property.

Lease-to-Purchase Agreement California

A lease-to-purchase agreement in California is a contract between a landlord and a tenant.

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