A contract is a valid agreement entered between two or more parties that create a legal obligation to perform any particular duty. A contract is valid when it contains the essential elements such as offer and acceptance, lawful consideration, lawful object. We find many people enter into various contracts in day-to- day life either for business or for personal reasons. In India contracts can be made both in written and oral form. E-contracts (online contracts) are also valid legally in India. It is very important to note that the terms of the contract need to be drafted carefully, to negotiate and review the terms to meet the requirements of the parties involved.
All contracts cannot be negotiated by both the parties, for example form contracts like rent agreements, banker agreements etc. While drafting a contract, it is important for each party to check that their rights, duties and the obligations are covered properly or not. The requirements, interests and prospects of both the parties need to be clearly covered. If there is any ambiguity or misunderstanding of the terms, it is necessary to define such terms. Also, legal jargons should be avoided in a contract, as it may create confusion between the parties.
SOME TYPES OF BUSINESS CONTRACTS:
- Marketing Agreements
- Lease deed
- Franchise Agreements
- Confidentiality Agreements
- Procurement Agreements, etc.
100solutions can help you to prepare a watertight contract which will protect all your interests and rights.
It is always recommended to consult an expert for entering into the business or commercial contracts. We at 100solutions.in can help you to protect your interests during the entire contract process.For more information, please contact us on email@example.com