vidhikarya

The Contract Nobody Reads Until There Is a Problem A business owner once described a contract dispute in a way that was difficult to forget. "We signed the agreement in twenty minutes and argued about it for six months." Nothing dramatic had happened. There was no fraud, no hostile takeover, no courtroom scene that belonged in a television series. The disagreement was about work that one side believed was included in the original deal and the other side believed was not. The strange part was that both sides seemed genuinely convinced they were right. That is often how commercial disputes begin, not with bad intentions, but with different expectations. People tend to think that contracts become important when a dispute starts. In reality, they become important much earlier. Most businesses simply do not notice it at the time. A contract sits quietly in a folder while projects move forward and payments arrive on schedule. Nobody pays much attention to it because ...

Contracts form the backbone of all commercial relationships. Buying a house, offering services, or getting employment: every situation around us has contracts. Every legal professional, as well as any person engaged in any kind of business or personal contract, needs to understand the law of contract. What is Contract Law? Contract law deals with the formation, performance, and enforcement of contracts between parties. It provides that undertakings made under specific conditions are enforceable and binding on a party in a court of law. These legal promises may be either verbal or written, and written contracts may be better suited for being upheld in a court of law. The major elements requisite to constitute a valid contract are: ●        Offer and Acceptance: An offer is made by one party and accepted by the other. ●        Intention to Create Legal Relations: Both parties intend that the alleged contract should ...