A contract between two parties is known as a Service Level Agreement. The consumer or client is one party, while the service provider is the other. The terms of the transaction are stated in this agreement, along with the responsibilities of the parties.
A Gift Deed is a legal document elucidating the voluntary transfer of the property to someone else without any monetary exchange. The property owner can handover it either to a person or an institution, however, it should be accepted by the donee (recipient) during the lifetime of the donor and should be registered under Section 122 of Property Transfer Act, 1882 with the
sub-registrar as per section 17 of the Registration Act, 1908.
A lease is a transfer of the right to enjoy the concerned property for a pre-defined time period or in perpetuity. It is defined under section 105, Transfer of Property Act. In a lease, the actual possession is transferred to the lessee. It creates interest on the leased property in favour of the lessee.
Although a partnership is governed by the Indian Partnership Act 1932, it provides the basic legal framework for the relation between two or more individuals entered into a partnership. However, it is beneficial for the partners to create a partnership agreement inter-se, to clearly define the basic details of the business and their rights and liabilities towards the business
A Lease Agreement is considered to be a contract formed between Landlord and Tenant which contains the provisions of renting the property. And it also contains such a set of conditions mutually agreed upon by the parties at the time of entering into it. A Rent Agreement usually occurs on a month-to-month basis whereas a Lease Agreement is created for long periods of time i.e., for a year or more.
Every business or service has a “Unique Selling Proposition” (USP) that helps it stand out from its competitors and survive, whether it be a business process, trade secret, or marketing technique. Being sensitive in nature, there poses a threat to the business if this information, being the USP, is disclosed by its stakeholders, like employees or other businesses they are working with, to a third party.
A Franchise Agreement is a legal instrument that is binding on the franchisor and the franchisee. The agreement details the franchisor’s expectations from the franchisee, how the business must be operated, and so on.