According to Indian Contract Act, “When one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the assent of that 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. A proposal, when accepted, becomes a promise.”
Every promise and every set of promises, forming the consideration for each other, is an agreement. An agreement enforceable by law is a contract.
The following guidelines will help in the drafting of a fool-proof agreement:-
- The language of the agreement should be simple, free from ambiguities and vagueness.
- The subject matter should be divided into paragraphs and the sequence must be maintained.
- The agreement must cover all the points agreed upon by both the parties and give equal coverage of both the sides.
- There must be a clause indicating the obligations of the agreement on both the parties.
- There must be a clause stipulating the duration of the agreement as well as clause regarding its administration. Recognized principle is that an agreement remains operative until it is replaced by new modified terms.
- Figures with regard to dates and amounts etc. are generally written in words or both.
- The name of the place where the document is executed should be specified. Similarly, the date of the deed should be written in words.
- The names and description such as parentage, occupation, residential and permanent address of the parties, if necessary to the deed, should be given.
- For the purpose of brevity of writing and for long description of parties, their abbreviations are coined e.q. A.B. ( hereinafter referred as “employer”).
- After necessary clauses, will follow the signature of the respective parties to be witnessed by one or more witnesses and attested by them with date and place of execution.
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Regards
Team Legal Point Foundation
Legal Point Foundation
Deepak Miglani [President]
Dinesh Miglani [Treasurer]
Kamal Jeet [Secretary]
Website www.legalpoint.in, www.deepakmiglani.com
Do you know that if any part of a single consideration for one or more objects, or any one or any part of any one of several considerations for single object, is unlawful, the agreement is void-Indian Contract Act
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