Legal validity of business contracts made on a plain paper & signed
30-Mar-2023 (In Documentation Law)
I have a proprietiorship firm and i am engaged in wholesale business and i want to make a contract between me and the buyers(my customers).So if i make that contract on a plain paper duly signed by both the parties,would this help me as a legal proof in court if anything happens in future.Or, i have to print that on stamp paper.If yes, then on what value of stamp paper should i do that?Please explain if any notary or any approval from court is required regarding this.
It is advisable to get it in Stamp paper of Rs. 50 / 100 and notarized as well. Also if money is due, ensure to get cheques from the customers. Be cautious in your dealings as not all customers are good.
The agreement or contract between both of u parties can be made on a white paper duly signed by both of the parties but u must make it notarized only then it is legally valid . And making that contract on a stamp paper and get it notarized it would be more valuable than that on white paper . Rs 100/- or rs 50/- Stamp paper would be better for that ...
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