Utah law requires that some types of agreements must be in writing. A contract is formed when there is (1) an agreement; (2) for exchange of value; and (3) sufficient terms.To be enforceable a contract must meet three criteria: (1) there was an offer: (2) the offer was accepted; and (3) there is consideration. Download a free Utah LLC Operating Agreement. List LLC Members, how profits are split, and how your LLC is taxed. 15-1-1 Interest rates -- Contracted rate -- Legal rate. (1) The parties to a lawful written, verbal, or implied contract may agree upon any rate of interest. Download Utah Sales Agreement template, modify and send for signing using BoloForms Signature. A. The Parties wish to enter into this Agreement to establish a contract water bank ("Water Bank") as provided for under Utah Code 73-31-101 et seq.