This article discusses drafting solutions to enable principals to rapidly recover compensation from their agents for losses caused by the agent’s negligence. The article focuses on the importance of ensuring that the agency agreement defines the method of computing the compensation the agent would have to pay if he is found to be negligent. Keywords: Agency…
With the help of an illustrated example, this article discusses drafting solutions that guarantors can incorporate into their guarantee agreements to rapidly recover from the principal debtor, the amounts paid as part of the guarantee. The article also discusses the advantages of executing loan-cum-guarantee agreements over executing separate loan and guarantee agreements Keywords: Agreement of Guarantee,…
This article discusses drafting solutions that lawyers can adopt when drafting joint development agreements for real estate to ensure that their clients can be quickly compensated for opportunity costs if the other party fails to fulfill its obligations. Keywords: Breach of Contract, Reciprocal Promises, Real Estate Development Reference: Indian Contract Act, Section 54, Illustration a Indian Contract…
This article is an illustrated rapid resolution example that is useful when lawyers draft construction contracts for clients who engage contractors for part or all of the construction work. The article focuses on drafting solutions that enable injured parties to rapidly recover compensation from the contractors for losses, including loss of income caused by the…
This article discusses clauses that suppliers of goods and services should incorporate into their contracts to rapidly recover compensation when the purchasers of the goods and services breach the contract by refusing to accept delivery. The article stresses the importance of suppliers’ need to ensure that their agreements give specific delivery times or schedules so…