How to Write a Contract | Next Level Law Podcast

A.J. Yolofsky of Yolofsky Law is a former U.S. Marine, business practice mentor for the new law business model, and host of the Next Level Law podcast. This podcast series is dedicated to sharing best business practices and insights for everyday individuals looking to gain a better understanding of the world of business and law.

In this episode, Yolofsky explores contracts—the lifeblood of any business. Contracts constitute informal or formal agreements between at least two parties or entities to accomplish some task. An enforceable contract has three elements:

Offer: One party offers the other party some sort of payment for the completion of an action.

Acceptance: Both parties agree to the contract.

Consideration: Some sort of exchange of value occurs.