Contract
sahil gupta
(Querist) 25 June 2012
This query is : Resolved
A contract (Leave and License Agreement) was executed between "A" and "B" on 29th April, 2006 at Indore regarding renting of a shop in a Mall on Leave and License Basis for a period of 3 years. After completion of 3 years, the agreement was not renewed till date. In agreement, it is provided that the parties may ammend the agreement by mutual consent.
The parties now wish to renew the agreement for a period of 3 years and escalate the rent, CAM etc.
My question is:
(i). Can the agreement be renewed now?
(ii). If yes, can the agreement be renewd through a mutual consent letter wherein both the parties give their expressed consent and confirm the renewed term and escalated license fee.
or an addendum agreement is to be made;
or a new Leave and License agreement is needed to be drafted.
Regards
Kishor Mehta
(Expert) 25 June 2012
Sir,
It is advisable to enter into a new Leave & License agreement.
Kishor Mehta
Heena Khurana
(Expert) 25 June 2012
besides renewal or going through addendum, parties should enter into a fresh agreement
Rajeev Kumar
(Expert) 25 June 2012
Agree with above experts view
sahil gupta
(Querist) 26 June 2012
Is renewal letter signed by both parties valid in eyes of law??
