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Corporate Laws

Commercial Contracts

Commercial Contracts

Commercial agreements and contracts are very essential as they legally determine and create liability over parties who enter into agreements for transacting a business, sealing a deal, selling and buying of movable and immovable goods, renting and leasing of properties etc. In each and every aspect of a commercial transaction the formation of contracts and agreements is indispensable.

A commercial contract may refer to a legally binding agreement between parties in which they are obligated to do or restrain from doing stipulated acts and include all aspects of a business, such as hiring, wages, leases, insurance, loans and employee safety. Negotiations are the starting point of any commercial relationship and commercial agreements are drafted to record the negotiations between the concerned parties in writing so as to give them a legally binding nature.