Elements of agreements

Page 1


Elements of a ntract/ Agreement Co Transfer of rights – in case of properties

Contr

Period of contract. Commercial & Monetary Terms

act Involves Offer & Invitation Acceptance of offer.

Impor

Agreement on consideration & Terms of Contract Details for payment of full

Extent of Property. Title of property Any Special Terms. Clauses for Specific Performance of agreement. Clauses for Termination of contract.

consideration, contingent to specific

Arbitration clauses if agreed.

agreed terms. tant Elements

Witnesses

Parties to contract Place, Date & Time Purpose of contract Agreement of Parties to contract Liabilities: - Loan, Income Tax & Other Statutory Dues. Define Responsibilities. Transaction Specifics –Service, property & related details Terms of Transaction



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