Generally, a domestic contract is an agreement between parties concerning personal, family, property, and/or relationship matters.
In Ontario, there are five recognized types of domestic contracts including:
Domestic contracts allow parties to privately make arrangements concerning their personal, family, property, and/or relationship matters. They give individuals a sense of independence, control, and peace of mind about such matters. Additionally, domestic contracts are cost-efficient and can be drafted and agreed to without court intervention.
As with any contract, domestic contracts may be subject to judicial interpretation depending on the terms of the contract and the surrounding circumstances. Furthermore, if there is unequal bargaining power between the parties that executed the domestic contract, that contract may be found to be unconscionable and therefore not enforceable in a court of law.
If you are interested in learning more about domestic contracts and how they may benefit you, or if you are involved in a legal dispute concerning the terms or circumstances of an existing domestic contract, please call our firm CHAND & CO. at 416-583-2377. We will assist you in whatever way we can with respect to your legal matter.