As more and more people opt for domestic contracts when entering into relationships, the question of whether these agreements are legally binding is becoming increasingly important. A domestic contract is a legal agreement made between two people who are either married or in a common-law relationship, with the aim of resolving any potential issues that may arise in the future.

The two types of domestic contracts recognized by law in Canada are marriage contracts and cohabitation agreements. Marriage contracts are entered into by spouses who are already married, whereas cohabitation agreements are for unmarried partners who live together. Both types of agreements can address issues such as property division, spousal support, and child custody in the event of separation or divorce.

So, are domestic contracts legally binding? The answer is yes, they are. As long as the contract meets certain criteria, it will be legally enforceable. Firstly, both parties must have entered into the contract voluntarily, without any coercion or pressure from the other party. Secondly, each person must have received adequate legal advice before signing the document.

Additionally, domestic contracts must be in writing and signed by both parties in the presence of witnesses. If any of these requirements are not met, the contract may not be enforceable.

It is important to note that domestic contracts are subject to review by a court if one party believes that the agreement is unfair or unconscionable. In such cases, a court may decide to set aside some or all of the provisions of the agreement.

It is also possible for both parties to agree to change or revoke the terms of the contract at any time, as long as they both agree to the changes and they are made in writing.

In conclusion, domestic contracts are indeed legally binding as long as they meet certain criteria. They can provide peace of mind to couples who wish to address potential issues should they arise in the future. However, it is important to seek the advice of a qualified lawyer when drafting or reviewing a domestic contract to ensure that it is legally sound and fair to both parties.