Kanika
5 Mistakes done while signing an agreement/contract.
Kanika bhardwaj 24 Dec 2018

5 Mistakes done while signing an agreement/contract.

1-Arbitration - This clause is most crucial one that decides that dispute in future will be handled by arbitrators which means right to file recovery in court gets relinquished automatically. Also take care that entire process of appointing the arbitrators is elaborated. Thus read this clause twice before signing or take consultation from a legal counsel. There is a possibility that other party very cleverly may draft that he only have the power to appoint the sole arbitrator. In this case, that party will appoint his known person as an arbitrator and you might lose the case obviously.

2- Jurisdiction- It defines the area where legal proceedings will be initiated in case of dispute. Party to contract overlook this clause as they do not have much awareness about it. It is a pure legal term. 3- Notary and stamp paper- A duly notarized agreement/contract is a good agreement/contract and is more valid before the Court. E.g companies get employee-employer agreement done without stamp paper and notary is a bad agreement/ contract. 4- Photographs of parties duly signed. Signature must be half on photo and half on paper to make it more valid so that party cannot deny their signatures. And after the notary of said document, other party can in no manner deny the said document or breach it. If he did, you will definitely get relief from the Hon'ble Court. 5- Always annex self attested copy of identity card of all the the parties. Kanika Bhardwaj Advocate, New Delhi +91-9582000415

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User Comments
Gyan
Well, may be I am wrong but few points were not correct in the Article. 1. Arbitration: what do you mean by known Arbitrator?? You can challenge that before High court or appointment of an Arbitrator. Favour obviously, a legal acumen shall not write such statement. 2. Jurisdiction: It is decided by the Law like CPC or CRPC and bot on discrteion except Arbitration proceedings. 3. Photograpgh: Under Contract Act, there is bo such provision. Each pages shall be signed and even oral agreement is valid and legal in nature. Main thing is if the agreement needs to be registered, it shall be rather photographs or signature on the the said photograph. Just my feedback.
Gyan 28 Dec 2018
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