Hello,

you may enter into a memorandum of understanding and may mention the details of profit sharing etc on the same. 

Regards

It's better to get it go registered partnership agreement or mou for the same

Please enter MOU with your Brother and within a year regular Agreement between you and him with provisions to get the documents registered under Registration Act to secure your interest and rights in the business to avoid any dispute in future. 

You can enter  into agreement for meeting of expenses and sharing of profits 

it should be signed by both parties 

- As per Section 10 of the Indian Contract Act, all agreements are contracts if they are made by the free consent of the parties competent to contract, for a lawful consideration and with a lawful object and are not expressly declared to be void.

- Hence, you should enter into an MOU with the detailed terms and conditions i.e.after giving the details of profit and expenditures . 

- As per law, it is not mandatory to be registered and stamped. 

Better execute MOU cum business agreement on 500rs stamp paper and get it notorise or get it register at sub registrar office.

Oral agreement is valid but hard to prove so it is advisable to execute written agreement mentioning all details.

You need to registered contract for all expenses to grow the Orange crops and profit sharing ratio accordingly to mentioned all percentage between both Need to draft an agreement and registered it as well fix the next 20 years clause. And it any breach of contract or denies can access the 5 acres  full by you for next 3-5 years

Incorporate all the terms and conditions of your agreement with your brother in law in a written agreement on a stamp paper. 

Though oral agreement is as good as written agreement to avoid disputes its prudent that you put the terms into writing. 

So forget verbal agreement and execute a written agreement. 

Meet an advocate immediately. 

Dear Sir, 

This kind of oral agreement is valid but oral agreements are very difficult to prove in the courts. 

You can enter into a Partnership Agreement or a Memorandum of Understanding, listing down all the terms and conditions, and all the rights and obligations of both the parties.

Get that agreement signed by 2 witnesses and get it notarized. This is not a legal requirement but in the even of any dispute, it will ensure that your brother in law does not state that he did not sign it, or that he was made to sign under compulsion. 

Additionally you can keep a record of all the payments and maintain an accounts book for the expenses incurred and payments received. Prefer to make payments by electronic mode whenever possible. This will help you secure your interests to a great extent. 

In order to draft the agreement it is advisable that you seek help on any advocate through Kaanoon portal.

Hope this helps.

Best wishes.  

Dear Sir, 

You are suggested to prepare the MOU/agreement because the said business is intended to be for the long term. The said terms and conditions are required to be documented and registered as registrar office or may be notarised as well. 

1. Both parties must mutually consent to agree a REGISTERED "Deed of understanding", with strategic clauses of all the points mentioned by you alongwith time limitations, vacating land in case of non-compliance or crop failure for any reason etc.....

2. Said Deed must be duly registered before the registrar of sub-assurances, alongwith two witnesses.  This will be legally enforceable in Court, more so since oral agreement are not enforceable in court during times of dispute.

Get an registered agreement done with him 

Get a firm registered 

Get FSSAI license 

You may enter into an agricultural farming partnership agreement with conditions as stated by you.

The agreement may be executed by a registered document to enforce the same before court of law in case of either of the party fail to comply and adhere to the conditions agreed and signed jointly.

You can consult a local advocate and get an agreement drawn and registered.

you'll need to create a written agreement  with your  brother in law, registration not required. 

An agreement must be made and registered stating all the risk factors and any contingencies and disputes which may arise.

All the expenses profit sharing should be categorically stated too.

Engage a lawyer for this purpose.

1. No specific nomenclature exists for such an agreement, but it can be styled as 'profit sharing agreement'.

2. Oral agreements are not enforceable.

Please enter into a MOU or a Profit Sharing Agreement 

Make it on a stamp paper of 100 or 500

Get the document notorised

Sign before 2 witnesses 

You can get into a profit sharing agreement with your brother in law and the agreement must be registered to make it binding upon both parties.