What is an Indemnity clause in a Contract?
Introduction: The word “indemnity” comes from the Latin word indemnis”, meaning “to be uninjured” or “to suffer no harm or loss”. It also refers to protection or security against financial losses. The Indemnity clause is one of the…
Read more »What are Essential Contract Clauses, and how to use them in a Contract?
Introduction: Every contract has some specific goals for the parties. These can reduce risk, negotiate terms, protect rights, etc. That’s the reason the clauses that you include in a contract play a significant role. Because of the lack…
Read more »Section 10 of the Indian Contract Act, 1872: What Agreements Are Contracts
Introduction Section 10 of the Indian Contract Act, 1872, outlines the basic legal requirements for agreements to become legally binding contracts. For example, if an agreement is made by the free consent of the contracting parties, with a…
Read more »Is a Settlement Agreement a Contract?
Introduction Is a settlement agreement a contract in legal terms? The simple answer to the question is yes. A settlement agreement is a form of contract that is created between the parties who are facing disputes. They agree…
Read more »Does An Agreement Need To Be Signed By The Parties?: Ultimate Guide
Introduction Contracts are legally binding documents; they set the terms and conditions for specific purposes. After it is signed by the parties, it becomes a legally binding agreement. The contracting parties are accountable for their parts of the…
Read more »Understanding Verbal Contracts in Indian Law
A verbal contract can also be used in business contracts; it is formed in a spoken or expressed way, but not in written form. In this contract, the terms and conditions are outlined through communication, and the parties…
Read more »What is a signed agreement called?- A brief overview
Introduction A contract signing is a crucial part of making it valid in legal terms. A signed agreement has a heavy weight in terms of enforceability by law. A signed agreement indicates that the parties involved are well…
Read more »Is a verbal Agreement Binding in PA in Business?
Introduction Being a business owner, you often enter into various agreements. Some of the agreements you choose to make are verbal, without writing. A verbal agreement is a form of contract; it is made between the parties without…
Read more »What is a Declaration of Trust and how it works?
What is a declaration of trust? A declaration of trust is a kind of legal document that outlines the terms on which an asset or property is managed on trust. A declaration of trust mainly contains property records,…
Read more »How To Write An Agreement Between Two Parties?
Introduction An agreement between two parties is an essential requirement for the business world. Whether such an agreement is made in written or oral form, it establishes the rights and responsibilities of the parties. Typically, in the terms…
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