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General agreements

Letter Agreement

November 29, 2012 by agribusiness in General agreements with 0 Comments
A letter agreement is an official communication that is sent by one party as the agreement to the other party. The letter agreement provides the specific terms of the contract that is being entered into between both the parties. A letter agreement has a legal binding when it is signed by the recipient for acceptance of the terms specified in it.

The letter agreement is a legal document and should have all the covenants of a contract such as offer, acceptance and a valid consideration. The letter agreement also needs to specify the jurisdiction of the contract that is being entered into between both the parties. When jurisdiction is specified in case of a dispute the legal remedy can be a sought in the concerned place of jurisdiction specified in the letter agreement.

A letter agreement is valid and enforceable under law when all the conditions of a contract are fulfilled as specified above.

Letter Agreement

Letter Agreement

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