A lease agreement is signed on 10/06/2009, the lease is effective form 01/09/2009. no security deposit has been exchanged.
Q1. when does the contract comes into effect?
Q2. what happen if one of the party resends/backs from the agreement?
Prem Krishanan ( Legal) 09 July 2009
A lease agreement is signed on 10/06/2009, the lease is effective form 01/09/2009. no security deposit has been exchanged.
Q1. when does the contract comes into effect?
Q2. what happen if one of the party resends/backs from the agreement?
R.R. KRISHNAA (Legal Manager) 10 July 2009
Any agreement comes into effect after its execution only. The execution date (date of signing) should be considered for its effect. If a party rescinds, then the affected party can file a suit for specific performance.
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