Exe Corp is a supplies and marketing company, while Rose Cosmetics is a multinational corporation manufacturing natural hair beauty products. The two companies made a contract which, among other things, stated that Eve Corp would market Rose Cosmetics beauty products in India while Rose Cosmetics provided additional professional support and training staff to the 150 natural treatment spas Exe Corp owns across India. While such a transaction is not barred by law, large service contracts of this nature must be forwarded to Indian authorities before the execution of such contracts to ensure compliance with a recently signed anti-slavery treaty. As it currently stands, the arrangement is in the final stages of approval with the Indian government. Implied in the contract is the parties’ actions in good faith. For example, Rose Cosmetics would provide workers proportional to the size of the facility while Exe Corp would supply amply depending on market demand. After the approval by the Indian government, the contract would be legally binding and executable by both parties.
Analyzing the contract, it is executory because the parties are yet to perform pending approval from the government. Nevertheless, it is a valid contract based on the fact that it is based on legally acceptable terms with legally capable parties. Implied terms are provided for, and it is bilateral in nature as it is the exchange of two services between parties.
Delegate your assignment to our experts and they will do the rest.
