Contract Questions and Answers

This is not a substitute for legal advice. An attorney must be consulted.

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What is legal purpose?

Contracts may be established for any legal purpose. A variety of reasons may exist for a contract; however, regardless of the purpose of the contract, it must be legal in the state. The different types of commonly used contracts include, but are not limited to: loans, promissory notes, mortgages, real estate purchase agreements, stocks, bonds, security agreements, employment contracts, construction contracts, usage contracts such as land easements, land rental, vehicle rental, machine rental, software license, name license and various forms of leases. A contract may not be written for any purpose that is contrary to laws either state or federal. For example, a contract may not be written in such a manner that requires either party to perform criminal act or engage in activity that would be a violation of the law. A contract may not be written that would allow for a usurious rate of interest. A contract may not be written that requires a party to meet a deadline over the roadways that would require a party to travel at rates of speed in excess of the posted speed limits. A contract may not be formed that would provide for the allowance of any criminal activity.