Contracts are woven into the fabrics of everyday life, governing the relationships between landlords and tenants, employers and employees, companies and clients.
Nearly all business relationships rely on contract law to ensure fairness and transparency. If you’re interested in this aspect of the law, read this guide to learn how to become a contract lawyer.
What Is Contract Law?
Contract law is a branch of law that enforces legally binding agreements. It ensures that the signatories fulfill all legal obligations stipulated in the contract. This field also governs the negotiation of fair business deals.
A contract reduces the likelihood of legal battles because it clearly outlines the terms and conditions of a transaction. If one party fails to uphold their end of the bargain, the contract lawyer can penalize them under state laws.
Many contract attorneys work in big law firms. However, some may prefer to work for corporations as in-house counsel. Others work independently, serving a variety of clients.
What Do Contract Attorneys Do?
Contract attorneys are licensed professionals specializing in contract law. Their main job is to draw up, review and amend legal contracts to their clients’ benefit.
A contract lawyer is the one to call when entangled in a legal dispute tied to a contract breach. However, most of the work contract attorneys do is preventative. Consulting an attorney before signing the dotted lines can reduce the likelihood of legal battles down the line.
Responsibilities
A contract attorney has two core responsibilities: creating legal agreements and enforcing them. However, these professionals’ day-to-day tasks may vary depending on their clients’ legal situations.
Below are some tasks a contract attorney may complete as part of their job.
- Reviewing existing contracts and advising clients on their rights and limitations
- Amending contracts after negotiations and consultation with clients
- Mediating between opposing parties when there’s a contract breach
- Representing clients in court
- Tracking and executing contract renewals before the expiration date
Salary and Job Outlook
As of August 2022, the U.S. Bureau of Labor Statistics (BLS) does not provide income data that is specific to contract attorneys. However, the BLS does provide statistics for lawyers overall. For the purposes of this assignment, we will use BLS data for all attorneys.
The BLS reports that the median annual salary for attorneys in the U.S. was $127,990 in May 2021. However, factors like experience level and location can impact a contract attorney’s income.
The top-paying U.S states for lawyers are:
- District of Columbia
- New York
- California
- Massachusetts
- New Jersey
The job outlook for U.S. attorneys is quite strong. According to the BLS, jobs for lawyers are projected to increase by 10% from 2021 to 2031. This growth rate is twice as fast as the average projected job growth for all occupations nationwide.
Skills for Practicing Contract Law
Along with formal education in law, contract attorneys need additional skills to adequately protect their clients’ interests. We outline some of these skills below.
Analytical Skills
Contract lawyers must be able to deconstruct information through logical reasoning and draw appropriate conclusions from the terms of a contract.
Communication and Speaking Skills
Effective communication fosters trust between lawyer and client and even extends to opposing parties. The attorney must be able to explain the contract and other propositions to both legal and non-legal audiences.
Interpersonal Skills
The attorney must objectively evaluate contractual disputes and propose solutions to prevent a full-blown legal battle.
Problem-Solving
The attorney must objectively evaluate contractual disputes and propose solutions to prevent a full-blown legal battle.
Research
States’ policies may change over time. When this happens, the contract lawyer must find updated laws that apply to every contract and advise the client appropriately.
Writing
Lawyers must be precise when drafting or amending documents to prevent misinterpretation of contract terms.
How To Become A Contract Lawyer
Building a career in law comes with stringent requirements. After graduating high school, it takes about seven years to qualify as a lawyer—not to mention high levels of discipline. Below are the steps you need to take to become a contract attorney.
Earn a Bachelor’s Degree
The first step to becoming a lawyer is obtaining a bachelor’s degree from a four-year undergraduate program. Fortunately, the American Bar Association (ABA) does not require potential law students to major in any specific subject during undergraduate school.
Aspiring lawyers can pursue a variety of pre-law majors, from political science to economics and even mathematics. The most important factor is getting a good GPA during undergrad, as this can increase your chances of getting into your preferred law school.
Pass the LSAT
After earning your bachelor’s degree, the Law School Admission Test (LSAT)® comes next. This test, administered by the Law School Admission Council (LSAC)®, predicts student performance in law school. It tests students’ comprehension, reasoning and writing skills.
With 180 being the highest possible LSAT score and 120 being the lowest, the average score falls around the low 150s. However, to get into prestigious law schools such as Yale, Harvard, Cornell and Columbia, candidates should score at least a 170 on the LSAT. Note that some law schools are now accepting GRE scores in place of the LSAT.
Go to Law School
Attending an ABA-accredited law school is standard procedure for all prospective attorneys. While there are other types of law degrees, the juris doctor (JD) is the most common for prospective lawyers.
The first year of law school is rigorous due to a vast curriculum covering subjects like civil procedure, contracts, criminal law, legal methods and writing. During their second and third years, students can take electives and gain practical experience through internships. Learners obtain a JD degree after completing law school, which usually lasts three years.
The American Bar Association (ABA) collects tuition data from law schools. According to this data, average law school tuition costs $40,791 per year for in-state learners studying full time. After three years, this adds up to $122,373, excluding student fees and living expenses. This tuition is much more expensive than most other types of graduate school, which cost less than $20,000 per year on average, according to the National Center for Education Statistics.
Learners who need financial assistance should consider applying for student loans and law school scholarships.
Pass the Bar
The bar exam is the last and possibly the most challenging step to becoming a contract lawyer. It typically lasts two days, and each state sets its own guidelines for the exam. In addition to passing the bar, law graduates must meet other criteria set by their state boards to qualify for state licensure.
Find a Job
Getting a job after passing the bar is the surest way to recoup your investment in college and law school. Students can also apply to local law firms and corporations hiring in-house counsel. Many contract lawyers transition to permanent roles at firms or companies where they interned. Some even start their own firms, usually after gaining experience in other roles.
Law school graduates seeking employment can find numerous openings on job boards. Popular options include:
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