

When you make a representation, you are alleging that a statement you are making is true, which benefits the other party because, if it isn’t true, they will have certain legal rights against you for damages they incur as a result of the misrepresentation.Įxample : Gene represents to Bob that he can lift 20 pounds.

Use “Represents” to Create Representations You should use the “If x, then y” format to create conditional statements.Įxample Obligation: If the Wonder Wharf Wonderdogs play in the World Series, then Gene shall work each game day from 5pm until 11pm.Įxample Discretionary Authority : If Gene gets a date for the prom, then Gene may skip work on prom night.Ĥ. Use “If/Then” to Create Conditional StatementsĬonditional statements require something to happen before something else can, or will be required to, occur.
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The agreement between the two individuals will be valid till ………………………………….(date).The parties agree to the following terms and conditions: Sign the contract and get other parties to sign the contract in front of an attorney.This is important, as in case of litigation, a party can claim that they were not aware of the terms and conditions of the contract. Specify that all the concerned parties have read the contract and given their approval to it.If a party fails to meet the consideration repeatedly or there is a deliberate breach of contract, the ‘authority’ to proceed with litigation has to be mentioned in the contract. Write down the penalties that would be applicable in case a concerned party is not able to fulfill the consideration.A contract is formed on the basis of the consideration that the concerned parties provide to each other. If the employee and employer agree to the terms of the agreement, it is time to sign. After completing, both parties are advised to take the document to their respective legal counsel.
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This includes the ‘consideration’ that each party is obligated to. Download : Adobe PDF, Microsoft Word (.docx), or Open Document Text (.odt). Ever since Ethereum graced the crypto space with its presence in mid-2015, the revolutionary invention by Canadian-Russian Programmer Vitalik Buterin has given birth to many new decentralised applications (dApps).
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Write the terms and conditions of the contract. How to write and deploy your first smart contract.Write down the legal names and addresses of the parties entering into the contract.Mentioned below are the steps involved in writing a contract. Although you can prepare a simple contract yourself, it is advisable to consult a lawyer or an attorney to get an insight into the intricacies involved in this process. A breach of obligation is unlawful and can lead to litigation.

A contract is an oral or a written agreement which specifies the obligation of individuals/parties, involved in the contract, towards each other.
