We have studied that according to contract law the agreements and contracts play a vital role while enforcing a business conducting business. For all sizes of business required agreements there was a time when contracts didn’t play a vital role in enforcement of business. however in today’s world contracts that are valid have to be enforceable too. Business conducting agreements are the agreements that are signed between the parties for conduction of businesses in this property is given on lease to the other party for conduction of business on it this can also be an agreement of selling or lease.
There are various different aspects that are required for inclusion in business contracts. The first one offers acceptance, consideration and mutual consent. This is really important for enforcing a business contract. When a business conducting agreement is signed it is really necessary to know that both the parties have consented to the same thing too voluntarily.
The business conducting agreement stands different from lease deed both have different purposes and cannot be mixed. Business conducting agreement is purely commercial in nature and has nothing to do with residential properties however it might happen that Restoration properties are given for business purposes that can also be included in business conducting agreement.
For enforcing a business conducting agreement legally both the parties have to follow the terms and conditions that are there in the contract also it is necessary for the agreement to be in writing for its enforcement. The basic particular that need to be included in the business conducting agreement are the date of the contract the name of the parties payments due dates contract expiration date the work thing that the party is going to carry on the plot or the building that damages breach of contract and everything in relation to the contract that can affect both the parties either directly or indirectly.
When we compare lease and business conducting agreement we must keep in mind that business conducting agreement has different Essentials to be fulfilled rather than the ones that are required in lease deed. It is also the duty of the parties to keep the documents related to business conducting agreement private. Also, non- disclosure agreement is accompanied sometimes with the business conducting agreement, depending on the requirements.
Also there are some conditions where it is better to enter into a lease deed rather than a business conducting agreement one such situation is that when the agreement is for more than 15 years of a longer period of time it is better for both the parties to enter into a lease deed that will be registered. The lease deed is considered as a more preferable option rather than business conducting agreement because in the lease there are many options that are present for both the parties. In the lease many of the aspects are clear and detailed. Also, it depends on the parties depending upon the usage of the property and terms and conditions attached to it.
Before entering into a business conducting agreement be sure that you have read all the terms and conditions very thoroughly and the condition of the property to it might sometimes happen that the condition of the property is not vital for use this will cause losses to the party who is going to conduct a business in it therefore it is necessary to check all the aspects of the property and the agreement before entering into one this is conducting agreement can be a good option for the parties that are going for some kind of commercial use but leaves it is still more preferable in any case.
I have always been against Glorifying Over Work and therefore, in the year 2021, I have decided to launch this campaign “Balancing Life”and talk about this wrong practice, that we have been following since last few years. I will be talking to and interviewing around 1 lakh people in the coming 2021 and publish their interview regarding their opinion on glamourising Over Work.
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