Crafting Clear Contracts: An Introduction to Fundamental Principles of Contract Drafting
By Sandigdha Mishra, Adv. Legal Consultant, School Compliance, Child Protectionist, Life Coach https://www.linkedin.com/in/sandigdhamishra/ A contract is formed when a party with sufficient legal capacity makes an offer and the other party of sufficient legal capacity accepts the offer with a legal consideration. In order to be a contract, the agreement must include valid consideration. That is, both parties must contribute a Quid pro quo to the agreement such as money, labor, a return promise, etc. To form a valid contract, both parties must have the legal capacity to enter into a contract and the purpose or objective of the contract must be legal. While intensification of commerce and trade sector is on its peak, contracts are extremely important set of clauses and often play a central role in any corporate’s success. When drafting a contract, there are many things which one should keep in mind, for instance, assuring that contracts serve everybody’s eventual benefits and