• Draft agreements


Wanted to understand the importance of the drafts, had a dispute with a business partner and while exchanging the draft over email we had accused each other and ultimately diluted it to a state where no one is at fault. The same was executed as well, I am trying to understand now the implication of those draft agreements and acquisitions against each other. 
What happens if one of them breaks the agreement or there is a dispute over the agreement signed.
Asked 2 months ago in Business Law

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11 Answers

Signed agreement amounts to contract and is binding on parties 


it supersedes the draft agreement 

Ajay Sethi
Advocate, Mumbai
90488 Answers
6636 Consultations

5.0 on 5.0

The core of any agreement is the contract. Please share the contract so that I amy be able to advise you accordingly.

Rahul Mishra
Advocate, Lucknow
13980 Answers
65 Consultations

5.0 on 5.0

Draft is rough sketch of agreement that helps parties to arrive at consensus. Parties can negotiate/modify/change/delete/add terms as per their intentions. Question of infringement of agreement only when all the parties arrive at accord and sign the agreement. It becomes enforceable only after parties sign the agreement giving their consent. In your case unless the context and details are known it is not possible to give any actionable opinion.

Ravi Shinde
Advocate, Hyderabad
3637 Answers
42 Consultations

5.0 on 5.0

- The purpose behind drafting a contract is to write down and identify the terms of the promises exchanged between the parties to an agreement and also address what would happen in the scenario where one party refuses to perform their part of the agreement. 

- Hence, it is an agreement , and both the  parties are bound to complied the terms and promises as mentioned in the draft ,and in case of breach of the same , it can be challenged before the court . 

Mohammed Shahzad
Advocate, Delhi
10878 Answers
136 Consultations

5.0 on 5.0

In agreement there must be termination clause kindly follow that for any violation or breach of contract.

Ganesh Kadam
Advocate, Pune
12676 Answers
215 Consultations

4.9 on 5.0

The draft agreements are not legal neither it is binding on the parties until it is executed properly.

Once an agreement finalised and executed, then all those draft agreements will be set aside and they wont attach any importance even otherwise. 

If a proper agreement has been entered into between the parties and if one of the parties to the agreement breaches the conditions then the other party can initiate legal action invoking the clauses available for remedy to such breaches.

T Kalaiselvan
Advocate, Vellore
80654 Answers
1740 Consultations

5.0 on 5.0

If the same has been executed mutually then both are bound by the said agreement If it breaks then other party will move for action

Prashant Nayak
Advocate, Mumbai
29082 Answers
113 Consultations

4.1 on 5.0



If the agreement has been signed by both the parties in presence of witnesses then the same becomes legally binding on both parties. 

Please see the termination clause in the agreement and send a notice for termination. 



Anilesh Tewari
Advocate, New Delhi
18002 Answers
377 Consultations

5.0 on 5.0

Dear client I this case the party who breaks the agreement have to resolve the liabilities relatable to the agreement breach.

Anik Miu
Advocate, Bangalore
6256 Answers
68 Consultations

4.9 on 5.0

In the case of any dispute any one party can sue the other for specific performance under he agreements signed asking for monetary compensation as well.

Swaminathan Neelakantan
Advocate, Coimbatore
2314 Answers
20 Consultations

4.9 on 5.0

First of all, you will have to understand what an agreement is. Agreement is a mutual understanding between a person who offers to do an act for a consideration to receive something for that from another person who accepts the same for the terms and conditions mutually agreed between the parties. There will be also a clause for violation of the terms and conditions in the agreement. If any one of the parties violates, then the violating party will be liable for the penalty or remedy mentioned in the agreement. Normally, if the violating party is obeying the violation clause, there will also be a litigation clause to claim their remedy as per the terms and conditions of the agreement. The litigation may be either from the appropriate court of laws depending upon the territorial or monetary jurisdiction of the parties to the agreement or with the Arbitration clause in which the Arbitrator will be appointed as per the Arbitration act.

Advocate, Coimbatore
29 Answers

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