AGREEMENT
When two people reach an understanding about a particular issue, including their obligations, duties and rights, an agreement is made. While the agreement is sometimes used to mean contract — a binding agreement which is legal, whether oral or written agreement. It is actually a very broad term, including understandings that might not rise to the level of a legally binding contract.
If you are in business, irrespective of any entity, you need to enter into a lot of agreements with various parties. It is required to draft various agreements as the practice, technique or skill involved in preparing legal documents that set forth the rights of the parties.
- Joint Venture Or Foreign Collaboration Agreement
- Rent Agreement/Lease Agreement
- Franchise Agreement
- Operating agreement
- Shareholders’ agreement
- Founders’ agreement
- Partnership agreement
The list of agreements is inclusive as you require a lot of agreements at different stages. There are various essentials that are required in a valid agreement/contract such as:
- Offer and Acceptance
- Consideration
- Capacity of the various parties to contract
- ) Free Consent of the parties involved
- Writing and Registration
- Legal Relationship
- Certainty
- Possibility of Performance of the agreement
- The object must be lawful
- The agreement must not be declared to be void