Posts Tagged: agreement

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Are Prenuptial Agreements Valid in India?

Prenuptial agreement (prenup) is a contract of European roots that is garnering its place in many other regions of the world. In its classical European philosophical sense, the contract is represented as a measure of precaution that secures the assets of both the husband and wife. In India, the concept of prenups have resurfaced time-and-again and gained popularity, such as, when Maneka Gandhi recommended the Minister of Law and Justice for the establishment of prenups as mandatory before the act of marriage. However, the legality of prenup agreements in India is a dicey road.

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Legal Compliances every Start-up should know

The Indian startup sector, which redefined the statistics in the aftermath of the pandemic, has the potential to be the 'engines of growth'. According to the Nasscom Tech Start-up Report 2020-21, India has 38 unicorns-startups with a valuation of more than $1 billion.

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10 Tenancy Laws Every Landlord & Tenant Should Know

Indian government has established and approved the Rent Control Act, 1948 for the purpose of controlling rental costs and protecting tenants' rights against arbitrary eviction. Landlords and tenants have specific rights that are protected by this law, which is enacted by the state's government. A few things a landlord and a tenant have to keep in mind while dealing with the process of renting out property, which includes written agreement, the amount of payable rent, security deposit, conditions regarding damage to the property during tenancy and so on.

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Rafale Deal Controversy: Procurement of 36 Rafale

The much-hyped multi billion Euro Rafale Deal which is considered as a gamechanger for India arrived in India as the first batch of five rafales out of 36 ordered landed at the Ambala Air Base on July 29.

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9 Best Practices on Contract Vetting

If you look at two different agreements for similar purposes, let's say two sale purchase agreements or two credit agreements, you will find them to be similar to quite an extent. On the surface, drafting agreements seems like an easy job once you know the format and essential clauses.

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Intricacies of the Employee Contract

One of the first agreements that people enter into as adults mostly include employment agreement. It is natural to have limited knowledge of how the agreements work, let alone the employment agreement. This gives rise to a certain fear while signing because well, the agreements tie you into liabilities. In general practices, the employees are restricted by such agreements to mandatorily serve for a certain amount of time. There are other obligations as well, which are brought upon the employees through the employment agreement. It is important to analyse any agreement before signing it. Therefore, we have decided to quickly explain the important parts of every employment agreement, which is currently in practice with modifications according to different industries. If you look for certain clauses in the document, you shall be able to get a hold of liabilities the agreement is looking to put over you and make an informed decision.

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Memorandum of Understanding| Explained

It is essential that before entering into a contract the parties to the contract reach an understanding on the same level. This requires that the parties agree in the same manner to the same thing. Ironing out all such minor details at the time of entering into a contract is necessary. However, sometimes the parties to the contract may just want to formulate a preliminary agreement that establishes the relationship between them but at the same time gives them some leeway which a formal contract may not. Such a preliminary agreement is called a memorandum of understanding.

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Freelancing

Freelancing is working on contractual basis for various companies rather than working on a regular salary basis for one employee. They have the freedom to choose their assignments or projects and company they would like to be associated with.

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Essentials of Valid Contract

A contract is the foundation of a civilised world. The law relating to contracts in India is contained in Indian Contract Act, 1872. A Contract is simply an agreement between two or more persons to do something. Each contract creates a binding duty on the contracting parties. The Indian Contract Act deals with the enforcement of these rights and duties upon the parties in India.

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Trademark Assignment

According to Trademarks Act, 1999 “trademark”, is a mark which can be represented in a graphical form and which is capable of distinguishing the goods or services of one person from those of others and may include the shape of goods, their packaging, and the combination of colours.

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Rights and Liabilities of Landlords

The landlord (lessor) and tenant (Lessee) relationship begins when the lease agreement is signed or the tenant enters into the property whichever is earlier. A rental agreement refers to the relationship between landlord and tenant. It is an agreement in which the rights and liabilities of tenant and landlord are set forth, which is binding upon both the parties. In India the owner can rent his property only in two ways:

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Rights and Duties of Tenants

Renting a place in India can be a very tedious task. With the spurting growth in job opportunities and need for a better lifestyle, people have started to move out from their hometowns and have started to occupy cities which offer them good opportunities. Therefore, the landlord-tenant legal relationship has become a big topic of discussions lately. The need for clear grounds of this relationship is quite an essential one because both the parties need to feel secure about their end of the transaction as the shelter is one of the most basic requirements. There are laws to secure this position so that neither party face violations of their rights. The tenants especially are given secured rights so that they are not prone to unnecessary threats of evection and hike in rent prices. They are, in return, supposed to observe certain duties for the benefit of the landlords.

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Types of Contract

A contract is simply an agreement between two parties where an offer and acceptance to do or refrain from doing a particular thing along with some form of consideration or remuneration to be given on the fulfillment of the promise.

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Website Development Agreement

A website development agreement is defined as a legally binding agreement between the client having a principal place of business and the developer. The parties’ intending to enter into the agreement exchange views relating to the basic concept of the client’s website and accordingly the developer prepares a draft of the website functionality and appearance. Where the service includes the development of a computer program such contracts are to be treated as contracts for the sale of goods.

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Consultancy Agreement

A consultant is someone who has immense knowledge about any particular field say for example software development or human resource and could be hired by the company to solve their problems on a contractual basis. They are not included in the purview of employee and hardly provided any employee benefits. They basically work as an independent contractor so no principal and agent relationship could be established. They provide advice or other services as demanded by a company for a particular project within the said period of time.

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Freelance Agreement: Important Clauses

A freelance agreement is an agreement in which people are free to work at their own liberty for their clients. According to the dictionary meaning of freelance, it is serving one or more companies at a time on contract basis as opposed to working for a single company. The person who offers services to other people/companies is a freelancer. They do not work for one person but serve more than one person at a time on their own terms and conditions. Generally, they have expertise in a certain field/matter. E.g. if you visit a studio the person who clicks your photo is a freelancer. He is not your employee though he served you as he has expertise in photography, he served you on his own terms and conditions and he is not obliged to work for you. You are his client. There is a freelance agreement between you and the photographer for a photo.

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Work Space Sharing Agreement

A work space sharing agreement is a binding contract for the usage of work space on a sharing basis between two parties. Through this the two parties that is the owner and the tenant of the space can share the working space by paying an amount of fees in exchange for subletting the co-working space.

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Franchise Agreement

A franchise agreement is one through which a Franchisor, the owner of a business model, provides his business model and his brand name to a Franchisee for use. The terms and conditions of the usage of the franchisor’s business model and his brand name by the franchisee are clearly and precisely laid down in a franchise agreement so as to avoid any and all ambiguity that may arise. A franchise agreement ensures that both the franchisor and the franchisee are aware of all the conditions of the contract and agree to the same.

Are Prenuptial Agreements Valid in India?

Legal Compliances every Start-up should know

10 Tenancy Laws Every Landlord & Tenant Should Know

Rafale Deal Controversy: Procurement of 36 Rafale

9 Best Practices on Contract Vetting

Intricacies of the Employee Contract

Memorandum of Understanding| Explained

Freelancing

Essentials of Valid Contract

Trademark Assignment

Rights and Liabilities of Landlords

Rights and Duties of Tenants

Types of Contract

Website Development Agreement

Consultancy Agreement

Freelance Agreement: Important Clauses

Work Space Sharing Agreement

Franchise Agreement

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