Please guide if a new contract is issued from a new date, how will the old agreement stand null and void.
From India, Delhi
From India, Delhi
Hello,
Contracts are many types depending upon the subject matter-commercial, technical, corporate, personal, employment etc.
On this forum I suppose we are talking about employment contract.
My response may please be considered in this context. Kindly therefore note:
1) Contract is a compilation of mutual and legally enforceable rights and obligations.
2) Most, if not all contract have a defined time frame within which only it is binding and enforceable.
3) If a contract is in perpetuity (no defined time validity) then the new contract on the subject will NOT extinguish mutual rights and obligations of the previous contract on the same subject UNLESS the new contract makes specific provisions in this regard of enforceability of the old contract in full or in relevant parts!
Whatever the situation, no contract will AUTOMATICALLY become null & void just because a new contract has been signed and especially if the new contract does not make provisions to make the old contract null & void-in full or in part!
Having said that, this response will be seen as general response but that is so because the poser is a generality.
If you present your query in a sharp focus, it will help you get more focussed responses!
Cheers
samvedan
March 22, 2012
-------------------------
From India, Pune
315Contracts are many types depending upon the subject matter-commercial, technical, corporate, personal, employment etc.
On this forum I suppose we are talking about employment contract.
My response may please be considered in this context. Kindly therefore note:
1) Contract is a compilation of mutual and legally enforceable rights and obligations.
2) Most, if not all contract have a defined time frame within which only it is binding and enforceable.
3) If a contract is in perpetuity (no defined time validity) then the new contract on the subject will NOT extinguish mutual rights and obligations of the previous contract on the same subject UNLESS the new contract makes specific provisions in this regard of enforceability of the old contract in full or in relevant parts!
Whatever the situation, no contract will AUTOMATICALLY become null & void just because a new contract has been signed and especially if the new contract does not make provisions to make the old contract null & void-in full or in part!
Having said that, this response will be seen as general response but that is so because the poser is a generality.
If you present your query in a sharp focus, it will help you get more focussed responses!
Cheers
samvedan
March 22, 2012
-------------------------
From India, Pune
Yeah Anushree, as said by Mr. Samvedan, while making the new contract agreement, one should make provision to make the old contract signed on ________ (date), will become Null & Void in full or except some specific part will have its validity.
Even some policy decision making letters issued will have the wordings " This will supersede the letter dated ______ (date).
From India, Kumbakonam
Even some policy decision making letters issued will have the wordings " This will supersede the letter dated ______ (date).
From India, Kumbakonam
Thanks Seniors for your guidance.
Further to provide specific information, in the particular case it is consultancy service agreement, i am talking about and the period mention in the contract is of 12 months w.e.f from 01st June'2011., Now we want to issue a new contract letter w.e.f from 01st April'2012 for the remaining period of 2 months with change in the financials (for tax provision).
Please guide what can be mentioned in the new agreement to make the already issued agreement null & void for the remaining two months while abiding the legal issues.
Thanks & regards,
Anushree
From India, Delhi
Further to provide specific information, in the particular case it is consultancy service agreement, i am talking about and the period mention in the contract is of 12 months w.e.f from 01st June'2011., Now we want to issue a new contract letter w.e.f from 01st April'2012 for the remaining period of 2 months with change in the financials (for tax provision).
Please guide what can be mentioned in the new agreement to make the already issued agreement null & void for the remaining two months while abiding the legal issues.
Thanks & regards,
Anushree
From India, Delhi
If the change in the contract is only Tax Part means, the agency cannot claim less or more against what they have paid. Always in the Tax part, the wording in contract will be "Tax/Cess will be reimbursed in actuals". If you mention in your previous contract, then you need not to revise the new contract for this 2 months. Because the taxes will be reimbursed only on production of Tax payment receipt (Service Tax).
From India, Kumbakonam
From India, Kumbakonam
Hello,
You may consider revising the existing agreement dated June 1, 2011
by another agreement or by exchange of letter recording the change
in the financial clause and say that "the financial commitment has been
revised upwards from Rs. ........ To Rs. .........effective from April 1, 2012
to June 1, 2012". At this stage you are NOT required to state the reasons
for revision so long the parties understand and accept the same.
The situation beyond June 1, 2012 can be treated independently and will
function of mutually agreed NEW terms for the decided NEW period.
Trust this response will set your concerns at rest!
Regards
samvedan
March 24, 2012
---------------
From India, Pune
You may consider revising the existing agreement dated June 1, 2011
by another agreement or by exchange of letter recording the change
in the financial clause and say that "the financial commitment has been
revised upwards from Rs. ........ To Rs. .........effective from April 1, 2012
to June 1, 2012". At this stage you are NOT required to state the reasons
for revision so long the parties understand and accept the same.
The situation beyond June 1, 2012 can be treated independently and will
function of mutually agreed NEW terms for the decided NEW period.
Trust this response will set your concerns at rest!
Regards
samvedan
March 24, 2012
---------------
From India, Pune
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Termination-emp loyment_563.pdf
SECURITY AGREEMENT.doc