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Krypo Legal, WeWork Zenia, Thane (2026)

15/06/2023

It's over

If someone says this to you directly, without telling you why it's over,

You will be shocked, surprised, and taken aback,

We may face such things in our life where a beautiful relationship you have with someone,

Ends without any indication, all of a sudden,

Leaving you with no option but to beg that person for a valid reason and

If a reason is not provided, you have to move ahead with the burden of repetitive thoughts as to why it ended,

You are left with nothing than guessing,

Now, if you are reached here by reading all the above, you are great,

Just hold on for a few more lines which are very crucial,

Because here the most important and boring content starts,

So if you are a party to a legal agreement,

and you want the other party not to terminate the agreement at any time as per his whims and fancies,

You need to ensure that the termination clause of the legal agreement contains a point that specifies that,

Before either party terminates this Agreement, a prior termination notice or pre-termination notice must be sent by the party terminating the Agreement.

The pre-termination notice may be sent 30 days before the agreement actually terminates. 30 days is just an example and you may put any number of days in the clause as per your convenience.

One may also specify that the pre-termination notice must specify a valid reason for termination.

I hope this helps. Please like, comment with your views, repost, and share this post. Thanks for spending your valuable time reading.

Note: This post is of informational nature only. It shall not be considered as legal advice.

WhatsApp at +918828014494 for any queries.

12/06/2023

The signature page of a legal agreement can be written in a different manner,

If there are only two parties in an agreement,

One may create a table with two columns in a Word document and add rows as required,

You may avoid writing the party details one after the other in a linear fashion,

Check the pic for reference

I hope this helps. Please like, comment with your views, repost, and share this post. Thanks for spending your valuable time reading.

Note: This post is of informational nature only. It shall not be considered as legal advice.

WhatsApp at +918828014494 for any queries.

10/06/2023

A legal contract for the Default Loss Guarantee Arrangements is a must between the RE and the DLG provider as specified in the “Guidelines on Default Loss Guarantee (DLG) in Digital Lending”.

The Guidelines also specified the inclusions of such a contract:

1. Extent of DLG cover

2. Form in which DLG cover is to be maintained with the RE

3. Timeline for DLG invocation

4. Disclosure requirements as under Para 11 of these guidelines which say that The RE shall put in place a mechanism to ensure that LSPs with whom they have a DLG arrangement shall publish on their website the total number of portfolios and the respective amount of each portfolio on which DLG has been offered.

5. Tenor of DLG: The period for which the DLG agreement will remain in force shall not be less than the longest tenor of the loan in the underlying loan portfolio.

I hope this helps. Please like, comment with your views, repost, and share this post. Thanks for spending your valuable time reading.

Note: This post is of informational nature only. It shall not be considered as legal advice.

WhatsApp at +918828014494 for any queries.

08/06/2023

Movies and Entire Agreement Clause

What's the similarity between an entire agreement clause in a legal contract,

AND

"they lived happily ever after" dialogue that we came across at the end of so many old movies,

This dialogue concluded the movie AND

So does the entire agreement clause conclude the legal contract,

However, in the case of a legal contract, the parties may or may not live happily ever after,

Sometimes the parties may have to go through legal disputes.

I hope this helps. Please like, comment with your views, repost, and share this post. Thanks for spending your valuable time reading.

Note: This post is of informational nature only. It shall not be considered as legal advice.

WhatsApp at +918828014494 for any queries.

02/06/2023

Startups need industry or business-specific contracts,

Templates do not work most of the time,

Customization is very important,

But how to customize?

Firstly, you can ask the startup itself if it has any specific terms and conditions to be added to the contract, OR

risks and problems it faces when dealing with the opposite party on a regular basis

Secondly, you can find the industry or business-specific templates online,

In the case of a tech startup, you get lucky because,

Majority of the tech startups upload their legal documents including legal agreements on their online websites under the regulatory disclosure section or any other similar section,

However, if the startup has just commenced it's operation and is not able to provide you any industry specific terms and conditions

OR

you do not find any industry specific legal documents online,

Then, you may have to research the business model involved,

Identify the risks that the startup may face while dealing with the opposite party, and

Then think about the possible clauses or terms and conditions that you can write in the Agreement which will protect the startup from such risks, and

Draft the complete agreement.

That's not the end though. You may have to amend such an agreement periodically depending upon the problems a startup faces.

I hope this helps. Please like, comment with your views, repost, and share this post. Thanks for spending your valuable time reading.

Note: This post is of informational nature only. It shall not be considered as legal advice.

WhatsApp at +918828014494 for any queries.

31/05/2023

Want to quickly identify whether a contract is a one-sided contract or mutual?

Well, there is a hack for this

If you come across a new contract which is very lengthy then

Instead of going through the entire contract to determine whether it is mutual or one-sided

You may directly go through the Waiver Clause, Termination Clause, Force Majuere Clause

These clauses are generally expected to be drafted in a mutual manner

However, if these clauses are drafted in a one sided manner

Then you may expect the entire contract to be one-sided

Through my experience, most of the times, I was able to determine the one sidedness of a contract through this hack

However, this method may be used only to judge the contract quickly

It is not a substitute for reading each and every clause of the contract carefully

I hope this helps. Please comment with your views. Thanks for spending your valuable time reading.

Note: This post is of informational nature only. It shall not be considered as legal advice.

WhatsApp at +918828014494 for any queries.

30/05/2023

Can you PAUSE a legal contract?

We know about the commencement and termination of a legal contract,

But what about pausing a legal contract?

Yes. You can pause a contract if an unforeseen event occurs.

Unforeseen events can be any natural calamity or Covid-19 or any such situation where the circumstances would make it difficult for either party to perform its obligations specified in the contract.

In such cases, the party who has been affected by the unforeseen event or both parties (in case both are affected),

notifies the other party or each other of it or their inability to carry on with the contractual obligations due to an unforeseen event, and

the parties mutually PAUSE the contract for a duration until the impact of the unforeseen event has completely reduced or is negligible,

When the impact of the unforeseen event ends, the parties again resume their obligations after notifying each other,

This concept of pausing the legal contract is referred in the legal contract as suspension of the contractual obligations of the parties.

The clause which allows the parties to pause the contract is called the Force Majeure clause.

I hope this helps. Please like, comment with your views, repost, and share this post. Thanks for spending your valuable time reading.

WhatsApp at +918828014494 for any queries.

29/05/2023

Don't forget to remove the word "Both" anywhere in the Agreement in the context parties if,

you are adding more than 2 parties to the Agreement,

I got to review an Agreement recently where the Agreement was amended to add two additional parties apart from the two already present,

However, the word "Both" was still present in many of the sentences. For example, "both the parties", "by both parties", or "both parties agree that",

It does not make sense and contradicts the amended terms of the Agreement,

Do watch out for such errors

I hope this helps. Please like, comment with your views, repost, and share this post. Thanks for spending your valuable time reading.

Note: This post is of informational nature only. It shall not be considered as legal advice.

WhatsApp at +918828014494 for any queries.

28/05/2023

Sometimes it is not easy to give a title to a legal contract or an appropriate heading to clause in a legal contract

And when it comes to legal contracts such a situation may become tricky,

We do not want the title or heading to convey a different meaning than what is actually present in the legal contract,

Conflict of meaning is to be avoided in any case when it comes to a legal contract,

Thus, to prevent the conflict, the following clause is added in the legal contract which says that the

"The headings and title of this legal contract are included for the convenience of the parties and should not be used as a means of interpreting this legal contract. The actual terms and provisions of the legal contract will govern in the event of any conflict or ambiguity with the headings or title."

This clause prevents the conflict between the headings and the actual terms of a legal contract.

I hope this helps. Let me know your views in the comments section. You may also like, share, and repost. Thanks for spending your valuable time reading.

DM or comment for any queries.

Note: This post is of informational nature. It is not legal advice.

27/05/2023

Myth: Having a legal contract for any purpose or transaction makes the underlying purpose or transaction legally valid.

Truth:

- A legal contract has nothing to do with the legal validity of the underlying purpose or transaction. It may add some value to the validity. However, the only job of a legal contract is to make the terms and conditions of the contract legally binding upon the parties of a particular contract.

- However, if your underlying purpose or transaction for which you signed the legal contract is unlawful, then the legal contract is also invalid. It's just a piece of paper that was wasted and now needs to be thrown into the dustbin (in the case of a Pdf or Word file, into the recycle bin)

- For a legal contract to be valid legally, the underlying purpose or transaction must be lawful. The underlying objective must be lawful.

- Also, the lawful objective factor is one of the several factors that make a contract legally valid.

I hope this helps. Please like, comment with your views, repost, and share this post. Thanks for spending your valuable time reading.

Note: This post is of informational nature only. It shall not be considered as legal advice.

WhatsApp at +918828014494 for any queries.

26/05/2023

Write "Okay" and not "k" or "ok" in professional conversations,

I recently landed a client for the same reason,

She told me that the other lawyers with whom she had done chat conversations, used "k" and "ok",

She also liked the fact that I was writing my sentences completely and not in short forms,

I know this is very simple but if writing two or three extra letters can convert a client, why not try the same

I hope this helps. Please like, comment with your views, repost, and share this post. Thanks for spending your valuable time reading.

WhatsApp at +918828014494 for any queries.

25/05/2023

"I am big, you are small"

"No No, You are small and I am big"

Such conflicts are prevalent in our daily life,

However, when it comes to legal contracts,

Such conflicts can prove costly

Hence, it becomes necessary to predict such disputes and

Settle them at the initial stages,

I have seen such conflicts happen in contracts that are drafted in multiple languages,

One such incident was when a legal contract was initially drafted in English, and then later on it was translated into French,

However, later on, a dispute arose between the parties to the contract and

the parties referred to the contract,

A particular clause in the contract in the English language favored one party and

the same clause in the contract in the French language was favoring the other party

Clauses were the same, the only difference was their meaning which might be because of an error in translation

The parties took the disputes to court for resolution,

The disputes would have not happened if the contract would have had one clause,

Which is called the "Prevailing Clause" (informally we can also call it the 'Big Brother' clause)

The function of the Prevailing Clause is significant in case of multiple contracts or contracts in multiple languages,

In the above incident, the prevailing clause would have specified which contract between the English Contract and the French Contract

shall prevail between the both or supersede the other

This could have been either the French contract or the English Contract

The clause would have determined who is the big brother and the issue would have been solved at the first instance itself

The lack of this clause escalated this issue

Moral of the Story: If a particular contract is drafted in multiple languages, inequality > Equality

I hope this helps. Please like, comment with your views, repost, and share this post. Thanks for spending your valuable time reading.

Note: This post is of informational nature only. It shall not be considered as legal advice.

WhatsApp at +918828014494 for any queries.

Krypo Legal

15/06/2023

12/06/2023

10/06/2023

08/06/2023

02/06/2023

31/05/2023

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28/05/2023

27/05/2023

26/05/2023

25/05/2023

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