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  What are the different types of contracts in India? 🤔📑 #ContractsInIndia #LegalQuestions #StartupLaw #BusinessContracts #IndianLaw #LegalAdvice #LexisAndCompany #LegalHelp Contracts are the backbone of any business or legal transaction in India. Whether you're launching a startup or engaged in corporate dealings, understanding different types of contracts is crucial for protecting your interests. Let's break down the most common contract types in India: 1. Bilateral Contracts 🤝 This is the most common type of contract in business transactions. It involves two parties where each promises to perform an obligation for the other. For instance, in a sale agreement, one party agrees to deliver goods, and the other agrees to pay for it. 🔑 Benefit : Clear terms for both parties ensure mutual understanding and enforcement of promises. 2. Unilateral Contracts 📝 In a unilateral contract, one party makes a promise in exchange for an act by the other party. Example: A reward contract...

  What's the Difference Between a Shareholder Agreement & a Partnership Agreement? 🤔 Are you wondering about the differences between a Shareholder Agreement and a Partnership Agreement ? Well, you're not alone! These are some of the most commonly asked questions by clients, especially when it comes to starting a business. Let's dive into it! 🌟 🔑 Shareholder Agreement : This is a legal document between a company and its shareholders that outlines the rights, obligations, and duties of each shareholder. It governs matters like voting rights , dividends , and how the shares of the company are to be transferred in case of disputes or exit. ⚖️ Partnership Agreement : On the other hand, a Partnership Agreement is a contract between two or more individuals who agree to operate a business together. It lays down the profit-sharing ratios, each partner’s responsibilities , and how decisions will be made within the business. Key Differences: Nature of Ownership : In a Sha...