Members must declare that they agree with each other and that they are committed to the terms and conditions and that this agreement is a final word and would end the ongoing dispute within the family about the property. Important elements of a valid contract include an offer, acceptance, consideration, the ability of the parties, the legality of the object, etc. Local laws, including a fraud law, may be an additional element that is based on contract and purpose. Since the development of a transaction agreement is another type of contract, given that these are disputes already pending before the courts, the Tribunal is also interested in the transaction and has an eye on the transaction contract. Contracting parties require the agreement of a judge before a transaction agreement is reached if the parties are unable or unable to reach an agreement. In criminal matters, and in the case of cartels and abuse of dominant position, the requirements of a valid contract must be met, as it concerns the general public. The actual understanding of the parties must be included in the transaction agreement. The provisions must be clear and clear, including the purpose of dispute resolution/settlement. A transaction contract can also be challenged in court, although it can only be revoked with a court order.
A transaction contract may be challenged if it is fraud or coercion, misrepresentation or improper execution. Those who sign the deed should also bear in mind that the act of colonization also has the force of law and that all parties who accept the conditions must comply with it. It would also be forwarded to the relevant authorities, who will facilitate the transfer of ownership and distribution under the terms set out in the agreement. Parties are also required to execute a No Objection certificate and other documents relating to the transfer of a property. It is not enough to reach an agreement or an agreement. Legal formalities must be reviewed to ensure the validity of the agreement. The transaction agreement is signed by all parties involved. The absence of a signature can easily be the cause of the challenge to the document in court at a later date.