Whether a MoU is legally binding as a Contract?

7 August 2021Posted inCivil law
A Memorandum of Understanding (MoU), as the term is being used now, is a written declaration by two or more parties. It expresses their common or mutual intention in regard to a project. A MoU looks like a contract. It is a less formal document than a contract. A contract is legally binding and enforceable. But a MoU is not a legally binding one in India. A MoU acts only as the foundation document. It indicates that a contract is imminent.

Power of Attorney & Its legal Provisions

9 June 2021Posted inCivil law, Property & Succession
A Power of Attorney (PoA) is a legal instrument signed or executed by a person who, by this instrument, empowers another person to act for or perform something on his behalf. The person gives authority is called as the donor or principal, the person so authorised is called donee or agent. The legal authority given by the principal to the agent may be broad or limited. The agent can legally do what he is specifically authorised to do by the instrument in clear terms. The power of attorney should be clear and understandable. There may be possibility of giving ‘Power Of Attorney’ by two or more persons jointly to one or more persons.

Promissory Note : Laws Governing it

31 May 2021Posted inCivil law, Negotiable Instruments
Promissory Note is a specific written promise to pay a debt. It is a negotiable instrument. In the instrument, one party (the maker) promises in writing to pay a specific sum of money to the other (the lender) either at a fixed future date or on demand by the lender or his/her orders. The Note is given against the amount of loan the promisor has received.

Law relating to Vakalatnama in Civil Cases

23 May 2021Posted inCivil law
The Vakalatnama enables the advocate appearing for the litigant to do several acts as an agent of the litigant who remains as the principal. It creates a special relationship between the lawyer and the litigant. It regulates the extent of delegation of authority to the advocate in regard to the conduct of the judicial proceedings and the terms and conditions governing such delegation. It should, therefore, be properly filled, attested and accepted with due care and caution.