Essential ingredients of an agreement
A contract may be defined as an agreement between two or more parties that is intended to be legally binding. Every promise or promises which form the consideration for others is an agreement. It may be Oral or in writing.
Well, in this short note, I am trying to explain the essential ingredients which shall form part of any agreement
1. Title: of the parties shall be clearly mentioned.
2. Recital
3. Tenure of agreement
4. Purpose/Scope of agreement
5. Commercial/Consideration part
6. Clause on Notice period
7. Termination clause
8. Effect of termination
9. Obligation of parties
10. Indemnity
11. Confidentiality
12. Force majeure
13. Intellectual property rights
14. Severability
15. No partnership
16. Arbitration/Dispute resolution
17. Jurisdiction
18. Modification/Amendment clause
Ref: http://lex-warrier.in/2013/05/agreement-under-indian-contract-act/
A contract may be defined as an agreement between two or more parties that is intended to be legally binding. Every promise or promises which form the consideration for others is an agreement. It may be Oral or in writing.
Well, in this short note, I am trying to explain the essential ingredients which shall form part of any agreement
1. Title: of the parties shall be clearly mentioned.
2. Recital
3. Tenure of agreement
4. Purpose/Scope of agreement
5. Commercial/Consideration part
6. Clause on Notice period
7. Termination clause
8. Effect of termination
9. Obligation of parties
10. Indemnity
11. Confidentiality
12. Force majeure
13. Intellectual property rights
14. Severability
15. No partnership
16. Arbitration/Dispute resolution
17. Jurisdiction
18. Modification/Amendment clause
Ref: http://lex-warrier.in/2013/05/agreement-under-indian-contract-act/
A contract may be defined as an agreement between two or more parties that is intended to be legally binding. Every promise or promises which form the consideration for others is an agreement. It
Well, in this short note, I am trying to explain the essential ingredients which shall form part of any agreement
1. Title: of the parties shall be clearly mentioned.
2. Recital
3. Tenure of agreement
4. Purpose/Scope of agreement
5. Commercial/Consideration part
6. Clause on Notice period
7. Termination clause
8. Effect of termination
9. Obligation of parties
10. Indemnity
11. Confidentiality
12. Force majeure
13. Intellectual property rights
14. Severability
15. No partnership
16. Arbitration/Dispute resolution
17. Jurisdiction
18. Modification/Amendment clause
Ref: http://lex-warrier.in/2013/05/agreement-under-indian-contract-act/
A contract may be defined as an agreement between two or more parties that is intended to be legally binding. Every promise or promises which form the consideration for others is an agreement. It may be Oral or in writing.
Well, in this short note, I am trying to explain the essential ingredients which shall form part of any agreement
1. Title: of the parties shall be clearly mentioned.
2. Recital
3. Tenure of agreement
4. Purpose/Scope of agreement
5. Commercial/Consideration part
6. Clause on Notice period
7. Termination clause
8. Effect of termination
9. Obligation of parties
10. Indemnity
11. Confidentiality
12. Force majeure
13. Intellectual property rights
14. Severability
15. No partnership
16. Arbitration/Dispute resolution
17. Jurisdiction
18. Modification/Amendment clause
Ref: http://lex-warrier.in/2013/05/agreement-under-indian-contract-act/
A contract may be defined as an agreement between two or more parties that is intended to be legally binding. Every promise or promises which form the consideration for others is an agreement. It