An event contract essentially includes the following: Details of the event, including venue, date, time, etc. Parties intention from the event. Services provided by the planner.
Types of agreements under Indian Contract Act, 1872 Valid agreement. Section 11 of the Indian Contract Act, 1872. Void agreement. Section 24 of the Indian Contract Act, 1872. Wagering Agreements. Contingent Agreement. Voidable agreement. Express and implied agreements. Illegal Agreements.
Market unpredictability: Unexpected outcomes occur frequently, meaning event contracts carry unpredictable market risk. Liquidity concerns: Since some event contract markets remain relatively new and untested, they pose some liquidity risks when few active parties are interested in a contract.
An event contract clearly outlines the terms, expectations, and responsibilities of both the event planner and the client. It helps minimize disputes, ensures financial transparency, and provides a framework for successful event planning.
Event Contract means a Contracts in an excluded commodity (as defined in Section 1a(19) of the Commodity Exchange Act) that is based upon the occurrence, extent of an occurrence, or contingency.2.