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An agreement enforceable by law is a contract.
Thus for the formation of a contracts there must be an agreements the agreement should be enforceable by law.
It is defined as every promise and every set of promises forming the consideration for each other and a promise is an accepted proposal.
Agreement is an Act in the eye of law whereby two persons being ad idem declare their common intention to do or not to do any Act, deed or think. An agreement is the combined product of offer and acceptance for some consideration passed between them. The agreement creates an outstanding obligation or liability.
The Indian contract law is governed by Indian contract Act, 1872. There are other statues which are equally applicable such as transfer of property Act, 1882, specific relief Act, 1953, sale of goods Act, 1930 etc.
For the formation of a contract the process of proposal or offer by one party and the acceptance thereof by the other is necessary. This generally involves the process of negotiation where the parties apply their minds make offer and acceptance and create a contract.
When one person signifies to another his willingness to do or abstain from doing anything with a view to obtaining the assent of the other to such act or abstinence, he is said to make a proposal.
When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted.
Therefore a minor is not competent to contracts and an agreements by a minor is void ab initio. He can not ratify an agreement on attaining the age of majority and validate the same. (Void ab initio means it has at no time had any legal validity).
Consent is said to be free if it is not caused by
Consideration or object is unlawful if
Agreements by way of wager/ Bet. Agreements by way of wager are void; and no suit shall be brought for recovering anything alleged to be won on wager, or entrusted to any person to bide by the result of any game or other uncertain event on which any wager is made. (Wager means betting or gambling). However certain prizes for horseracing are exempted.
You can draft an agreements or contracts for the delivery of services like catering, shipping etc. If firm can draft an agreement for appointment of the sole selling agent. Business services agreement can be drafted with the confidentiality of information. Consultancy agreement, employee service agreement, franchise agreement, memorandum of understanding, software services agreement can be drafted by using the LawDocs platform in simplest possible way.
As far as, marketing agreements are concerned, there is no personal liability on agents part and the manufacturer shall indemnify the agent for any loss, which may arise in the ordinary course of business. The drafts prepared by the LawDocs, apart from creating a contractual relationship between the parties, also stipulates various rules assigned to both the parties with regard to manufacturing and packaging, licensing, publicity, maintenance and customer support for the computers or IT firms.
A maintenance agreement is for a specific period of time wherein any party can terminate the agreement by giving a notice to the other party. LawDocs templates makes this tasks easy as you can terminate the contract by giving the notice with the help of LawDocs drafts. Maintenance services have to be carried out in accordance with the time schedule provided in the agreement.
Mistakes or errors in deeds arising from any accidental slip or omission should be corrected by a deed of rectification. For rectification, there must be a mutual mistake and that the documents does not represent the true intention between the parties and the mistake relates to some facts and not of law.
When parties to a deed agree to modify or vary, add to or subtract from the terms of any previous deed, it is necessary that the intention of the parties should be expressed in a written instrument, as oral testimony of such agreement is not admissible in evidence. Such deeds require registration if the principal deed was registered.