Essential Elements of Contract
Intention to create a legal relationship
Proper offer and its acceptance
Lawful object
Agreement not expressly declared void
Free Consent: Consensus ad idem
Capacity of parties to contract
Possibility of performance
Lawful consideration
Pre-contractual Agreements
Pre- Contract stage
Term Sheet/ Letter of Intent (LOI)
Non-Disclosure/ Confidentiality Agreements
Some forms of Letter of Intent (LoI):
Term Sheet
Discussion Sheet
Commitment Letter
Agreement in Principle
Memorandum of Understanding
Memorandum of Terms
Heads of terms/Heads of agreement....to be contd...
No comments:
Post a Comment