News By/Courtesy: Priyanka Patnaik | 18 May 2020 10:58am IST

HIGHLIGHTS

  • Validity of Pre-nuptial agreements in India
  • Its validity under Contract Act 1872
  • Why prenup should exist?

A prenuptial agreement is an agreement signed by two people before getting married. The agreements are to settle financial matters in case of a failed marriage. The provisions include the division of properties, investments, bank accounts, and other monetary possessions. In India, marriages are considered to be sacrosanct, and usually, a pre-nuptial agreement is frowned upon. Pre-nuptial agreements don't have a standard format. It depends on the couple to couple.
The validity of Pre-nuptial agreements in India
In India, marriages are governed by various personal laws depending on their religion. Every religion has numerous rules and regulations. Only in Goa, it can be recognized because Goa has a uniform civil code. The reason why Pre-nuptial agreements are not accepted in India is that marriages in Idia are not a contractual agreement but a sacrosanct. They are not accepted by society and are considered offensive.
The agreement discloses all your finances of the couple,wh are about to get married. It also provides a provision for custodial rights of the children in case of separation and the amount of alimony to be paid. In India, it is not accepted and it is not legal or valid as marriages are sacrosanct.
Its validity under Contract Act 1872
A prenuptial agreement to be valid in the Indian laws has to satisfy the Indin contract law laws such as it should be free of consent, there shouldn't be coercion, undue influence, fraud, misrepresentation, and Mistake. To legally enforce the agreement it should be fair to both of them and free from any bias. It has to also satisfy the legal validity of whether the clause opposes public policy or not. According to section 23 of the Indian contract act, it states that any contract which violates the pubic policy is considered unlawful and invalid. The clause of separation and no child violate section 23 and make it void. However, India hasn't defined exactly what public policy is, and therefore it is still open to debates. The ministry of women and Child Development had set up a meeting to discuss the prenuptial agreement and its legal validity in India. As of now, there has been no determination of it.
Why prenup should exist?
A prenup agreement is essential in today's marriages because things can get ugly it adds up to your financial woes along with emotional trauma. Signing in a Prenup will protect the interest of the parties and also from enormous divorce settlements which are biased to only one side. Also, we all know that India's laws are biased toward females having a prenup will create a balance among the parties. When there is a prenup it can help in relieving all the financial burden one spouse has to carry and it can also have an equal distribution of the properties.

Section Editor: Pushpit Singh | 18 May 2020 11:11am IST


Tags : #prenupsinindia

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