Legal Question in Intellectual Property in New York
Someone would like to sell me the complete rights to their book(s). Would it be legally binding if I drew up a contract myself?
If not, what would I have to do so that this self scribed contract will uphold the purchase of the rights (let's say for 1 dollar) in a court of law? Must it only be notarized? Does the dollar amount purchased for matter?
2 Answers from Attorneys
Contract do not need to be notarized unless a given party is requiring that. This only demonstrates that a person's identity was verified. The agreement needs to carefully spell out the terms of your transaction and any contact needs the same three essential elements to be binding: offer, acceptance and consideration (even if that is only 1 dollar).
I think drafting your own contract is probably not a good idea, but you are free to do that unless you are doing so on behalf of someone else. I would have a lawyer prepare a thoughtful agreement for you so you know it is protecting your interests.
If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.
Our firm is now referred by the American Bar Association (see under the New York section):
http://www.americanbar.org/groups/delivery_legal_services/resources/programs_to_help_those_with_moderate_income.html
Kind regards,
Frank
www.LanternLegal.com
866-871-8655
DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.
A contract you drafted would be binding to the extent that the contract properly and legally addresses the transfer of rights, any potential pre-existing issues and any future issues that may arise as a result.
Since you are buying something and investing in it your valuable money, you ought to consider a proper agreement drafted by an attorney. These types of agreements are fairly straight forward and inexpensive. Feel free to ping me offline.
Roman R. Fichman, Esq.
www.TheLegalists.com │ @TheLegalist
email: Info (@) TheLegalists (dot) com
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Disclaimer: This post has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice or be relied upon. No intention exists to create an attorney-client relationship or any other special relationship or privilege through this post. The post may contain errors, inaccuracies and/or omissions. You should always consult an attorney admitted to practice in your jurisdiction for specific advice. This post may be deemed as Attorney Advertising.
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