Authored by Sarthak Gupta, VII Semester / B.A. LLB / NMIMS Kirit P. Mehta School of Law
Introduction
In most cases, the contracts of a growing start-up will be signed quickly. The agreement with the customer is agreed upon via e-mail; the terms of the vendor are accepted with a single click; the consultant begins working after receiving a chat message; and the side letter of the investor is saved to someone's download folder. After two years, the organization has numerous agreements and no list of all of those agreements. Furthermore, the organization does not have an immediate response to the question, "What did we promise, to whom, and until when?"
Under Indian Law, informal agreements have legal force. An agreement does not require a written signature to be legally binding. An email conversation can establish an agreement. Investors are also taking the time to read their agreements carefully. Founders who do not know what the most recent version of an agreement is, or who
