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Pravesh DabasAdvocate Delhi, India

04 · Business & Corporate

Business Contracts

Business contracts set out the terms on which parties trade. Clear drafting helps prevent disputes and makes rights easier to enforce.

What this covers

  1. 01Supply, service and distribution agreements
  2. 02Non-disclosure and confidentiality agreements
  3. 03Shareholder, partnership and joint venture agreements
  4. 04Terms and conditions for businesses
  5. 05Review and negotiation of contract terms

How it generally works

Contracts are governed by the Indian Contract Act, 1872. A contract is enforceable if there is a lawful offer and acceptance, consideration, free consent and a lawful object.

Key clauses usually cover price and payment, delivery and performance, liability and indemnity, termination, confidentiality, and how disputes will be resolved — for example by arbitration.

Stamp duty may be payable on certain agreements, and an insufficiently stamped document can cause difficulty when it has to be relied on later.