Posts Tagged: contract

Legal

What are Contracts Of Indemnity and Guarantee?

Contracts of indemnity and guarantee are special agreements covered by the Indian Contract Act of 1872. In a contract of indemnity, one person promises to compensate another for losses. In a contract of guarantee, three people are involved: a third person steps in to pay the debt if the debtor fails. Both types of contracts help protect creditors when a third party does not fulfil its obligations. Chapter VIII of the Act provides the rules for these contracts in India.

Legal

Illegal Agreement vs. Unlawful Agreement

While studying the Indian Contract Act, 1872, we come across a lot of agreements, and while understanding about it, these two terms - "unlawful agreement" and "illegal agreement", often make us scratch our heads and become a topic of discussion.

Legal

Breach of Contract : Meaning, Types & Remedies

We all have mugged up this definition of Contract before going to Law school ‘A contract is an agreement enforceable by law.’ In simple words, it is a legally binding agreement formed with the consensus of two or more parties upon mutual terms and conditions based on a consideration set by the parties. But what if one party refuses to perform the terms of the contract? What should be the remedies available to them? Let’s discuss this in the blog below.

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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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How to file a Case in Consumer Court?

India is home to crores of consumers indulging in the market space, which ranges from small necessity products like food and beverages to luxury products like a television or a car. The Consumer Protection Act of 2019 came into effect to protect the interests of such consumers and to efficiently solve the disputes relevant to them. The process of filing a consumer court complaint has been made very convenient and fast-track for satisfaction and redressal to the consumers.

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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.

Legal

Attorney-Client Privilege in India

Attorney-Client privilege refers to a client’s right to refuse any disclosure of sensitive information and to prevent the attorney from disclosing the information to a third party. In other words, it is a type of understanding between the attorney and the client where any information shared by the client to the attorney cannot be further disclosed to any other person, by the attorney.This essentially refers to the rights available to the client for the protection of their own interest.

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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.

Legal

Force Majeure Clause:Understanding the Importance of this Clause

During the COVID-19 pandemic, two things were mostly talked about: Remdesivir, a medicine, and Force Majeure, a contract's clause. While Remdesivir captured headlines for its potential in combating the virus, the Force Majeure Clause quietly played an important role in protecting business deals, offering a remedy for contractual chaos caused by lockdowns, supply chain problems, and financial trouble.

Legal

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.

Legal

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.

Legal

Letter of Undertaking: How does it Work?

Letter of Undertaking (hereinafter referred to as LoU) can said to be a sort of guarantee that is issued by a banking entity to the concerned person for attaining short term credit from the overseas branch of an Indian bank. Such LoUs are not issued against retail transactions, but are employed in business or trade transactions.

Legal

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.

Legal

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.

Legal

Rights and Liabilities of Landlords

Before renting a property, the landlord must create a rent agreement with the tenant. This agreement outlines the rights and responsibilities of both parties. Various laws govern the landlord-tenant relationship and provide ways to handle disputes. The landlord can evict the tenant on certain grounds, such as breaching the agreement or causing a nuisance.

Legal

Rights and Duties of Tenants

Renting a place in India can be a very tedious task. With the spurting growth in job opportunities and the 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 lately. The need for clear grounds for this relationship is quite an essential one because both parties need to feel secure about their end of the transaction, as shelter is one of the most basic requirements.

Legal

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.

Legal

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.

What are Contracts Of Indemnity and Guarantee?

Illegal Agreement vs. Unlawful Agreement

Breach of Contract : Meaning, Types & Remedies

Are Prenuptial Agreements Valid in India?

How to file a Case in Consumer Court?

10 Tenancy Laws Every Landlord & Tenant Should Know

Attorney-Client Privilege in India

Rafale Deal Controversy: Procurement of 36 Rafale

Force Majeure Clause:Understanding the Importance of this Clause

9 Best Practices on Contract Vetting

Intricacies of the Employee Contract

Letter of Undertaking: How does it Work?

Freelancing

Essentials of Valid Contract

Rights and Liabilities of Landlords

Rights and Duties of Tenants

Types of Contract

Website Development Agreement

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