629+ Lawyers are online 
Stamp paper agreement stamp paper agreement
10-Jan-2025 (In Civil Law)
Hi, I met a person who does business in stock market 50% profit sharing. He said he is ready to do agreement on stamp paper which will say if there is a profit I will give him 50% profit and if there is a loss he will give me 50% loss amount. My question is that is it correct thing to do an 20 rupees stamp paper agreement of this type so that if I don't share profit with him he can file a case on me and if he don't give me the lost amount I can file a case on him
An agreement on ₹20 stamp paper outlining profit and loss sharing in stock market transactions is legally valid under the Indian Contract Act of 1872, provided it fulfils essentials like free consent, lawful object, and consideration. Both parties can enforce such an agreement in case of breach. However, ensure the agreement specifies all terms clearly, including profit/loss calculation and dispute resolution. Consulting a legal professional is advised to draft the agreement properly and safeguard your interests.
Helpful?
Adv. Ranabir Datta
Pune | 100+ Answers
CONTACT NOW
If the so-called person is trustworthy according to you, then there is no issue in being in agreement with him. And there are two options for it, A. Agreement and B. MOU (Memorandum of Understanding). In both the documents specified clauses, terms and conditions will be mentioned related to profit and loss sharing and regarding filing of case against one another. After going through the documents, and finally signing the documents, both the parties will be bounded to respect, obey and follow the conditions of the agreement or MOU.
Helpful?
Adv. Siddharth Sunil Sakat
Pune | 25+ Answers
Chat
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Civil lawyers for your specific legal issue
No Comments! Be the first one to comment.
- Does "One and the same person" also require gazette publication?
- Muncipality property tax - timebarred arrear
- Dispute Regarding Compassionate Appointment and Service Benefits
- Legal Opinion on Withholding of Exam Results for Alleged Malpractice
- About uogradation of category after qualified for national fellowship
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
