Contract law is one of the oldest branch of Common Law system. If we trace the roots of informal contracts, we will have to go back in stone-age, where primitive human population used to exchange goods as per barter system under specific terms and conditions of oral agreements. English law had laid down the very foundation and principles governing the Contract Law.

In Indian context, the statute governing contracts is The Indian Contract Act, 1872. The basic ingredients of the contract are offer, acceptance, communication of acceptance, consideration, lawful object, capacity of contract and free consent. Terms and conditions are bounding on both the parties and it can only over ridden in certain cases premised upon accepted legal principles. Contracts can be void, voidable and void-ab-initio. There are contracts where time is the essence of the contract, and on the other hand, time has less role to play in validity or legality of the contract.

Legal assistance for contracts drafting is of paramount importance. It is the job of a lawyer drafting contracts that he should understand the requirements of the client, draft it in a way that it is neutral for both of the parties, legally enforceable and not violating any other statute or the Constitution of India. The clause of arbitration has given some relief to commercial litigations as formal procedures of law can be bypassed and parties can straight away approach an arbitrator as per the terms and conditions of contract.

The job of Contract lawyers in Chandigarh comes into play even before inception of the contract negotiations. There are law firms in Chandigarh which deal exclusively with the contract drafting and negotiations.

It is always advisable to the clients that they consult lawyers dealing in contract law before they have started contract negotiations in order to avoid any dispute in future.