What is a contract?
Any agreement between the two parties with a mutual understanding can be considered as contract.
Components of a Contract:
• Offer
• Acceptance
• Mutual thought
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Goals of the Contract Drafting:
The contract ought to be tired a framework
which ought to be an Analytical framework.
While drafting a contract we have a tendency to should consider the foremost vital things that should be happy and build a contract fruitful.
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Below square measure the points that require to be unbroken in mind while drafting a contract
1. Target Client -
Lawyer ought to initial
below Who is the consumer to whom he's drafting the contract. He should see
issues of the consumer, challenges the consumer faces through linguistic
communication and additionally, the lawyer should understand the importance of
the contract to the consumer.
2. What will our consumer hope to accomplish with this Agreement?
The lawyer should initial perceive for what the
contract is being written and he should think about the interests and rights of
the consumer. In alternative words, to mention the profit or gain the consumer
intends to attain, or the intention of the consumer ought to be the most facet.
The lawyer should shield whereas drafting the contract. Some examples wherever
the consumer intends to achieve by the contract square measure to create a
client relationship, purchase a land or house property, leasing a property,
sterilization the terms in associate degree existing contract, merchandising a
land or house property, provider relationship, joint ventures etc.
3. Information about Opposing Party-
The
opposing party is that the alternative party or opposite party with whom the
consumer intends to form a contract. It’s a requirement for the lawyer to
understand the small print of the opposing party for drafting the contract a
lot of effects, as a result of the lawyer will prepare a technique or framework
to shield the interest of the consumer.
4. What's the opposing party hoping to accomplish with this agreement?
The goals or the objectives of the opposing
party ought to be legendary to the client’s lawyer, as a result of to figure
out a draft contract which can shield the consumer being overexcited by any
obligations created by the opposing party within the contract which can result
the consumer and place him below any loss or harm. And additionally on
alternative half, to shield the consumer from any undue advantage or enrichment
take by the opposing party through the contract. As a result of each, the
parties agree on the terms is that the core issue, the opposing party could
impose terms or get into a commanding position which can have an effect on the
consumer.
5. What square measures the foremost important components of this relationship for each?
This square measure is known as “DEALBREAKERS”. Deal breakers square measure the terms created by each the parties for his or her own advantages and if one party objects the terms then that term or condition is a deal breaker. In alternative words, it's the sensitivity of the data within the contract, the clauses of the contract square measure therefore sensitive or delicate some discussion or arguments on them will break a contract. Deal breakers may be terms and conditions that square measure misappropriated or against the law and public policy.
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6. That terms square measure negotiable for every party?
The terms that square
measure written by the parties for his or her goodness and each accept as true
with the contract on all terms. However, there'll be some terms they'll be
negotiated and a few alterations may be created once a discussion between the
parties. For instance: one party on soft terms will raise the other party to
cut back the rates or value, or in the alternative instance could invite the
increase in value or rates and reciprocally he can offer some concessions or
advantages. In negotiation, each of the parties gets one thing for themselves.
Negotiation works as one party provide and takes one thing; one party provides
and gets something.
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