Is a Handshake Deal Legally Binding in India?” — The Great ‘Gentleman’s Agreement’ Mystery 🤝😎 💡Client Question of the Day: "Sir, we made a verbal deal and shook hands on it… but now the other party is backing out. Can I sue them based on a handshake deal?" 😄Our reply: “Well… if only the court had CCTV footage of your handshake! 👀✋ But jokes apart, let’s talk law.” 🔍 Answer – Are Oral Agreements Valid in India? ✅ Yes! Even Oral Agreements are Legally Valid under the Indian Contract Act, 1872 — provided they fulfil essential elements like: 👉 Offer & Acceptance 👉 Intention to Create Legal Relations 👉 Lawful Consideration 👉 Competency of Parties 👉 Lawful Object BUT (and it’s a big BUT)… proving an oral agreement is the real challenge! 📌 #OralContracts #HandshakeDeals #VerbalAgreement #IndianContractAct1872 #LegalValidityIndia #ContractEssentials ✅ Problems with Handshake Deals: 👉 No written evidence = No solid proof 😬 👉 Hard to establish terms...
Is There a Difference Between MOU and an Agreement?" 🤝📃 Or Are They Just Fancy Words Lawyers Use? 😅 Clients often ask: "We’ve signed an MoU with another company. That’s good enough, right? Or do we still need a formal agreement?" 🤔 Ah, the MoU vs Agreement confusion – the age-old tale of casual promises vs legally binding commitments! 🎭💼 👉 Let’s Break It Down: 🔸 MOU (Memorandum of Understanding): A gentleman’s handshake… but on paper! ✍️ Not always legally enforceable. Used to outline intentions before a formal deal. 🔸 Agreement (Contract): A serious legal document 📜 Fully enforceable in court 🏛️ Contains rights, duties, liabilities & consequences. 🔥 MoU is like saying “Let’s Date” 💑 💥 Agreement is saying “Let’s Marry” 💍 🧐 When to Use What? ✅ Use MoU for early-stage partnerships, exploratory talks. ✅ Use Agreement when things get serious — money, liability, deliverables, penalties involved. 💡 Pro Tip: An MoU ...