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How to Sign with Stamp Sales Agreement

5 out of 5

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its a good question so from the very beginning when we first started I made it clear to my vendors I dont need your leads we do not need your leads we can sell okay so were not going to trade a relationship with you and then have to answer to you were not going to trade a relationship with you for vendor leads so that we have to answer to you were gonna do whats best for the client always no matter what I can tell you man it is amazing Ive said this many time I blog vendor a lot of vendors out there operate live and operate like the Mafia I can tell you I was at a major automation conference last year and I had two separate meetings with sales representatives and they made it very clear you either sell our products and you lead with our products and our products alone and you dont put anybody elses logos on your website or were not gonna support you period and I said what about the case I was talking about IOT I said well we have a lot of customers who need MQTT from the edg

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Do agreements need to be stamped?

Even oral agreements are valid in India, as per the act. The Contract Act does not make stamping of agreements compulsory. It does not make an unstamped agreement/contract thereby invalid or unenforceable. Therefore, an agreement does not require mandatory stamping to make it a legal and valid instrument.

What is the rule of stamping?

(1) The proper officer shall, upon any instrument specified in rule 10 being brought to him before it is executed and upon application being made to him, affix thereto a label or labels of such value as the applicant may require and pay for and impress of perforate such label or labels by .

Are contracts stamped?

The Indian Contract Act, 1872, does not contain any provision that makes stamping of agreement compulsory or declaring any unstamped agreement as invalid or unenforceable. So from this, it is clear that for an agreement to be valid, stamping is not necessary and even without a stamp they are valid and enforceable.

What happens if an agreement is not stamped?

If an instrument is not duly stamped, the person subject to penalty is the person who makes it, not the person in whose favour it is made. The letter incurs the risk being debarred from producing it in evidence, but does not render himself liable to penalty. The receiver of the document is not also liable as abettor.

What is the reason for stamping?

The payment of proper stamp duty on a document creates its legality. Such document is admissible as evidence in a court of law. Documents that are not properly stamped, or are unstamped, are not admissible as evidence.

What is the purpose of stamping an agreement?

In simpler words, only a stamped document can be admitted as evidence in court. The purpose of stamping a contract is to provide another layer of protection to the contracting parties, as upon stamping, the document is then admissible in the court in case of any dispute.

Which agreements are required to be stamped?

Other than the documents mentioned above, the Karnataka State Government levies stamp duty on: Affidavits. Mortgage Certificates. Adoption Letters.

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