Tuesday, 9 March 2021

Contract Forensic - A Seed to Business Investments

 Every contract has its specific genetic and every contract made to serve a specific purpose, generality may pollute the purpose of business.

Let’s take an example;

“One or more component of any automobile may use to another brand of vehicle, as one component of Car or Bike, may use some time, but not all components can be used to build another brand of vehicle, though, it falls under the same category of vehicle, a car or a bike.

Let’s take another example;

It is not possible by giving a description to the garment store; we can have a perfect shirt or trousers, until and unless we tried it or altered.

Like using such template completely without doing forensic with it, or considering the nature of business, its strategy, its mission, its vision, its internal and external policies and procedure, it will certainly prove to be an unguided missile rather a medicine.  

Drafting any agreement is a specific legal science, which required pre-supposes experience combined with fair appreciation of legal implications, both substantive and procedural. Without true knowledge and placing of appropriate word in the contract may cause the virus, resultantly, increase the cost, and unwanted trouble and wastage of productivity. It is also important to understand contract forensic is a technique formulated with an eye to relevant law with an objective to bring about excellence and help to eliminate needless controversy relating to interpretation.

The founding stone of contract forensic is “Protection of Business Investment”; unfortunately, trend to formulate any contract is “intention of the parties” that runs the risk of being miscarried unless expressed with precision in guarded language, by a contract forensic expert.

The contract forensic expert not only synchronies sole objective of business, its vision, mission etc. But use forensic techniques with reference to the statues and up-to-date decisions of the Apex Court and High Courts.

Unfortunately, most of the time the work of convincing is done by plain drafting mind, without really consulted the other important aspect of forensic, in such conditions it lost its geographic utility, or sometime it difficult to understand even by lawyers or somewhat difficult to adapt them properly to the specific needs of the parties.

Contract forensic is a process which set out a contract in a simple language, devoid of highly technical expressions as far as possible, but not attempt has been made to revolutionize the entire system, with a centrifugal force of protection of business investment. 

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