It’s time you know the truth about those confusing legal terms in your contracts.
People generally think that confusing legal language in business contracts make them stronger.
A valid contract under India’s contract law has a few basic conditions — confusing contract language is definitely not one of them.
The first condition is that there should be an “offer”. For example, a software developer “offers” his programming skills to the client.
The second condition is that the offer should be “accepted”. For example, the client “accepts” a software developer’s offer to provide programming skills.
The third condition is that this offer and acceptance should be in the exchange for “consideration” (i.e. money). For example, the client agrees to “pay” the software developer a fixed fee of Rs. 10,000 for developing an app.
That’s it! These are some of the important elements of a contract. And all this while you have been sending and signing pages full of scary terms. Adding difficult sounding legal terms don’t make the contracts any more solid. In fact, such language could end up hurting your interests.
Drafting contracts is difficult, but, yet it’s a very important part of business. Contracts definitely deserve more importance than just copying and pasting a “contract template” and crossing your fingers. We have all heard about how contracts played a crucial part in the Facebook fiasco involving Winklevoss Twins.
We at SpotDraft reimagined contracts to simplify them, yet keep them rock solid and binding. SpotDraft not only helps you draft and sign contracts in simple language, it takes a step further and automatically sends ** beautiful customized invoices** and payment reminders.
It’s time for a change, it’s time to SpotDraft .
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In addition to the above, notification of breach, term, survival, governing law and jurisdiction are other critical clauses in an NDA. SpotDraft enables abstraction, review and deviation analysis, and answers layman questions on NDAs and other transactional agreements in a few seconds per contract using Artificial Intelligence. Please feel free to explore SpotDraft at https://www.spotdraft.com/ or request a demo at https://app.spotdraft.com/auth/request-demo