License Agreement
Heaven 2011
(Querist) 21 February 2009
This query is : Resolved
In a license agreement entered with the licensee there is a clause "it is hereby clarified and agreed that the present demise is for a term of 3 yrs during which period either party can terminate this agreement by giving 1 months notice.After the expiry of such license period, this agreement may be renewed at the option of the Licensor on the same terms and conditions for further two periods of three years each..."
Respected gentelmen, my query is if this agreement is renewed can i incorporate new clause containing new terms and conditions or can i amend or delete this existing clause? Can i have any theory back up for the concerned issue from Indian Contract Act?
Kindly advise.
With best regards,
Asish
Manish Singh
(Expert) 21 February 2009
firstly you should not use the word "demise". its not the appropiate word.
secondly you can always amend or modify the terms/ clauses but consent of both the parties are needed alongwith witnesses terming it as "amendment / addendum to the said agreement".
