I want to know wheather an oral agreement is void or valid? I am running an industry from 20years with my close relative as partner,the product which is using for trade is my own invention but i didnt make a patent for it. the firm is regestered under my partner name.From 4 years i am not paid any part of income due to a dispute.my question is 'is there any provision for oral agreement in Indian contract Act or Partnership Deed?'
All Contracts are Agreements, but not all Agreements are Contracts. To your pointed question whether oral agreement is valid under Indian Contract Act, it can be safely said NO. Agreements are of two types, one is compulsorily registrable and others - not. In your case, unless it is accepted by your partner that you had only invented the product dealt by your firm, it cannot be enforced legally.
yes oral argeements are valid agreements...you need to prove that there was a invention...invention was invented by ur intellectual.....and thus there was oral agreement to utilise and promote that invention between you and the said partner....and then only you can suceed....but above all u must show that invention was invented by you then you can get patent for that invention....
its important you give more details so that we can help you out
SIR My friend who is an tribal of Shillong, Paid Rs. 12,00,000 by Cheque on September, 2011 to a Real estate Company of NOIDA to book a flat through a middleman but My friend didn't get any money receipt and neither he entered into any kind of agreement. Everything went verbally. now after almost 2 years my client have not got any information from the company regarding the flat. here i would like to clear that my client is an illiterate person so he wasn't aware as how to deal in. he just heard from that middleman and talked with the Real Estate Company and issued the cheque.the cheque also got honored after the 4-5 days of issue.
one month back he tried to talk with the company official and they said they have received the cheque but they have booked the flat for someone else. that middleman also died recently now sir please tell me under what ground my client can claim remedy.