Rafale Deal Controversy: Procurement of 36 Rafale
Recent Updates

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.

Continue Reading about 3 months ago
Force Majeure Clause:Understanding the Importance of this Clause
Legal

Force Majeure Clause:Understanding the Importance of this Clause

Coronavirus was declared as a pandemic in March 2020 by the World Health Organization and since then the global economy has been hit the hardest with governments across the globe implementing stringent policies including lockdown to control the coronavirus outbreak. Due to this the force majeure clause is gaining a lot of attention and in this article, we will be discussing the important aspects of this clause.

Continue Reading about 6 months ago
9 Best Practices on Contract Vetting
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.

Continue Reading about 1 years ago
Intricacies of the Employee Contract
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.

Continue Reading about 1 years ago
Letter of Undertaking: How does it Work?
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.

Continue Reading about 2 years ago
Freelancing
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.

Continue Reading about 2 years ago
Essentials of Valid Contract
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.

Continue Reading about 2 years ago
Rights and Liabilities of Landlords
Legal

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:

Continue Reading about 2 years ago
Rights and Duties of Tenants
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 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.

Continue Reading about 2 years ago
Types of Contract
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.

Continue Reading about 2 years ago
Website Development Agreement
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.

Continue Reading about 2 years ago
Consultancy Agreement
Legal

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.

Continue Reading about 2 years ago
Sale of Business Agreement
Legal

Sale of Business Agreement

In this capitalist world, constant economic transactions are taking place. One of these important transactions is selling your business. While the sale of your business sounds like a simple enough deal, there is a lot of basics which has to be hammered out in this comprehensive document.

Continue Reading about 2 years ago
Freelance Agreement: Important Clauses
Legal

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.

Continue Reading about 2 years ago
Work Space Sharing Agreement
Legal

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.

Continue Reading about 2 years ago
Franchise Agreement
Legal

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.

Continue Reading about 2 years ago
Joint Venture Agreement
Legal

Joint Venture Agreement

A Joint Venture is defined as any arrangement whereby two or more parties co-operate in order to run a business or to achieve a commercial objective. In other words, Joint Venture is a business agreement between two or more companies whereby the business resources of the partners are mutually shared and put to use.

Continue Reading about 2 years ago
Essentials of Partnership Deed
Entrepreneurship

Essentials of Partnership Deed

Partnership refers to an agreement between two or more persons. To form a partnership firm there is a need for an agreement between the partners. Therefore, a partnership deed is a written agreement specifying certain rules and regulations among the partners. It requires signature by all the partners with an aim to prevent further possibilities of disputes or disagreement arising among the partners.

Continue Reading about 2 years ago