CORPORATE LEGAL FRAMEWORK

DIGITAL ASSIGNMENT - 1

NAME: M SIVANESAN

REG NO: 19MBA0002

Source

https://family.findlaw.com/marriage/prenuptial-agreements.html

https://www.rocketlawyer.com/form/prenuptial-agreement.rl

Tag words

INVALID,FINANCIAL,PRE-MARITAL

Topic

PRENUP CONTRACTS – LEGALITY & VIABILITY IN INDIA

My Standpoint

Prenuptial Contracts is a a financial contract between two people before they are married. It
outlines the assets and debts of each person and how assets and debts should be managed if the
relationship dissolves or a spouse dies.

Pre-nuptial Agreement in India sounds like an alien concept. India is a country that boasts of its
rich culture and the love and warmth that people share. Unlike western countries where marriage
is taken to be a contract between husband and wife, in India marriage is considered as a religious
alliance of a man and a woman for life and thus a prenuptial agreement is legally not valid under
the Hindu Marriage Act in India, however it is governed under the Indian Contract Act, 1872.
Premarital agreements are a common legal step taken before marriage. So while no one is
thinking about a divorce when they get married, about one half of all marriages in
America end up in divorce proceedings.

To protect the inheritance rights of children from a previous marriage.

To protect business interests, especially if you own a company with others.

To protect pensions or retirements earned before the marriage.

There is a large age difference between the partners and the older person's retirement and long-
term healthcare requirements need to be protected
Gist of subject matter of discussion

The truth is, marriage is not only a romantic relationship, but also a type of business
relationship. This dual nature and purpose of marriage has led to the increased acknowledgment
that a prenuptial agreement can be useful to protect each spouse's financial interests. the
premarital agreement can protect the inheritance rights of children and grandchildren from a
previous marriage. The agreement may require you to give up your right to inherit from your
spouse's estate when he or she dies. Under the law, you are entitled to a portion of the estate even
if your spouse does not include such a provision in his or her will. Starting a relationship with a
contract that sets forth the particulars of what will happen upon death or divorce can engender a
sense of lack of trust

Reference and Citations:

1) The ministry of women and child development (Maneka Gandhi) believes making such
agreements legally binding would help save marriages.
2) https://indiankanoon.org/docfragment/11211781/?formInput=prenuptial%20agreement

3) Sribataha Barik v Musamat Padma, AIR 1969 Ori 112, This case proceeded mostly on the
basis of an alleged prenuptial agreement between them.