Task
Q.1 Answer following questions.
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Get Help Now!a) What do you mean by preamble of an agreement? Give example.
b) Which clause is used to explain the backdrop of an agreement? Discuss with an example.
c) Is it a good practice to draft binding obligations in recitals? Discuss.
d) What are the different kinds of Covenants? Explain with examples.
e) How is ‘Language of Obligation’ different from ‘Language of Discretion’ under the several categories of contract language. Support your answer with an example.
f) What is the consequence of using the word ‘May’ while discussing the obligations of parties to an agreement? Use illustrations to explain.
Q.2 Answer following questions.
a) What is the purpose of a ‘Force Majeure’ clause when drafting a contract? Are instances of ‘economic difficulties faced by one of the parties’ usually included in such clauses? Explain with an example.
b) Describe what is indemnity and draft a simple indemnity clause. Explain indemnity cap and indemnity bucket with the help of examples.
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