Back to basics today! What is a contract? Well, at its most basic it’s an agreement between two or more parties, where consideration passes between them.
What is consideration? Something tangible or intangible, a promise to do or not do something, or doing or not doing something. Basically, if someone gives something up, however, significant or insignificant it may be or seem to be, it constitutes consideration.
The classic contract involves an offer, acceptance, and consideration. So you offer to pay me money to provide legal services, and I agree to provide those services. We have a contract. For some purposes—like conflicts of interest, for example—we have a completed contract. That means I cannot represent someone else, adverse to you,