The definition of Contract is given under S.2 (h) of the Indian Contract Act, which provides ‘a contract is an agreement enforceable by law’. So, the purpose of a contract has to lawfully positioned and then it comes within the safeguards of law, therefore it is eligible to be performed duly by the parties. Whenever there is a purpose and for which come together two parties, one providing the object and one providing the consideration, they usually enter into a ‘contract’, keeping in mind the legality of the agreement.The need for a contract is because it has certain legality and a due procedure of law to regulate it, it is a reflection of the intent of two parties to further enter into a contract. The law lays down the obligations, limits, and scope for the parties to that contract and at the same time providing it safeguards and efficacious remedies. Once a contract is finalized, thereafter every step of the transaction has to be within the scope of that contract and it has to be made sure that all the due procedures, terms, and conditions are effectively reviewed before finalizing. In business, it is particularly important to have the right advice on hand before entering into a contract or you and your organisation could face significant and far-reaching consequences.
Our team is advising and drafting all forms of commercial agreements and contracts while ensuring to protect our client rights. Multi-disciplinary and closely integrated lawyers team of Astrea advise and serve our clients in various contract-related services including:
• Drafting, reviewing and enforcing of all types of commercial contracts
• Distribution and Licensing Agreements
• Agency and Employment agreements
• Trading Conditions
• Agreements for the Sale/Supply of goods or services
• Advising on arbitration clause
• Terminating contracts
• Recovery of damages as a result of a breach of contract.