Contracts are formal agreements between people or legally-recognized business entities, such as corporations. They have been known worldwide for thousands of years, but have acquired greater significance in the sophistication of the modern age. Contracts are ideally intended to constitute a “meeting of the minds” of the contracting parties, and are expected to be for the mutual benefit of both parties. By setting forth the obligations and expected benefits of each party, they facilitate the exchange of goods and services. Smith & Shapiro has extensive experience with a variety of contracts found in typical transactions.