🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

Back

Saksham

Legal Advisor! • 1y

Crafting the Perfect Contract: Key Elements Ever wondered what goes into a well-written contract? Whether you're a business owner or just curious about legal documents, understanding the typical elements of a contract can be incredibly useful. 1. A clear title sets the stage, letting everyone know exactly what the agreement is about. 2. All-important identification of parties - using full legal names and addresses to avoid any confusion. 3. For technical agreements, a definitions section can be a lifesaver, explaining complex terms in plain language. 4. The real meat of the contract lies in its content, outlining obligations, duration, and risk allocation. This section should cover all bases, from enforceability to dispute resolution. 5. Don't forget the signature block! Certain agreements must be in writing and signed to be legally binding. By focusing on these elements and using simple, clear language, you can create contracts that are both legally sound & easy to understand.

Reply
2
9

More like this

Recommendations from Medial

Saksham

Legal Advisor! • 1y

Shark Tank Teaches Us: Contracts Matter Shark Tank India's legal drama shows why handshake deals won't do. A strong agreement, like the one that saved my design client, protects your agency from: ●Unauthorized Use: Client uses your work for unappro

See More
Reply
9
Image Description
Image Description

Saksham

Legal Advisor! • 1y

In your daily life, you hear the terms Contract and Agreement. Most people think both are same but they are different. To make it easier, understand that all agreements are not contracts however all contracts are agreements. According to Section

See More
6 Replies
18
37

Saksham

 • 

Bebyond • 11m

📃Reverse Engineering Clauses: Navigating the Legal Landscape in Tech The Ola Electric-MapMyIndia dispute highlights the critical role of reverse engineering clauses in tech agreements. These provisions protect intellectual property by prohibiting a

See More
Reply
1
4

Chamarti Sreekar

Passionate about Pos... • 2m

freelancer ? this prompt might be a gamechanger for you! Contract Drafter prompt I’m selling [item/service] to someone. Write a simple, legally sound agreement that protects both of us and includes [insert details like delivery, price, timelin

See More
Reply
11

Saksham

Legal Advisor! • 1y

After my yesterday's post on Agreements and Contract, people asked me if I am doing an agreement where money is not involved and the transaction is in kind, is it valid? The answer is no. In India, only the agreement which has a monetary value atta

See More
Reply
2

Saksham

Legal Advisor! • 1y

Understanding the Parol Evidence Rule in Indian Contract Law The Supreme Court judgment in Mangala Waman Karandikar vs. Prakash Damodar Ranade highlights the importance of the Parol Evidence Rule in contract interpretation. Here's what you need to k

See More
Reply
6

Pranjal Pandey

 • 

CompSci • 1y

(3/3) 8. Compliance with Company Law : Comply with the provisions of the Companies Act, including holding annual general meetings, maintaining statutory registers, and filing annual returns with the Registrar of Companies. 9. Contractual Agreements

See More
Reply
1
8

manindra kumar pandey

Hey I am on Medial • 3m

Startups Need Strong Legal Support to Succeed! Did you know that 95% of startups fail due to legal and compliance issues? Don’t let your business become a statistic! I specialize in providing legal support to startups—helping them navigate complian

See More
Reply
4
Image Description
Image Description

Tarun Suthar

 • 

The Institute of Chartered Accountants of India • 3m

The Legal Documents, Every Startup Needs to Get Started. I have Compiled All Startups Legal Documents Like ESOP Agreement, Founders Agreement, Freelancer Contracts, Non-Disclosure Agreements and more. I will be adding other documents on recurring ba

See More
61 Replies
196
112
1

Download the medial app to read full posts, comements and news.