1) Are oral contracts legal in india?
2) Do written personal investment contract (personal scale)between two individual has legal binding or have to register with gov.or notary?
2 Answers from Attorneys
Dear Sir / Madam,
(Hadapsar, Pune, Maharashtra)
1. No ... oral contracts are not legal in India.
2. Entering into such personal investment contracts is usually done and signed by both the parties on stamp paper in the presence of two witnesses. There is no need to get it registered or notarized.
FCA Prashant Chavan
(You can also mail me for any further on-line advice at firstname.lastname@example.org)
If you can prove by conduct oral contract is legal and binding on parties.
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