Joint venture agreement
This query is : Resolved
20 October 2016
A Joint Venture Agreement was executed between 2 companies in the year 1988.
The Directors of both the companies have signed the said agreement.
The said Agreement is not registered & not stamped.
Also the common seal of both the companies is not affixed on the said agreement.
Now both the companies are in litigation.
Under these circumstances, will the agreement be binding on both the parties in the court of law?
The Directors of both the companies have signed the said agreement.
The said Agreement is not registered & not stamped.
Also the common seal of both the companies is not affixed on the said agreement.
Now both the companies are in litigation.
Under these circumstances, will the agreement be binding on both the parties in the court of law?
Amol S Joglekar
(Expert)
21 October 2016
yes. The agreement is binding subject to other NON competing conditions in the said agreement
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