By Oladokun Omowunmi
A contractual agreement is a legally binding promise made between two or more parties that creates an obligation which is enforceable by law.
The exchange of goods, services and legally recognized relationships requires the preparation of a written agreement to avoid fraud or people going back on there promises.
The content of an agreement is absolutely binding on parties and the Court recognizes it as an evidence which may be used against the other when dispute arises.
TYPES OF CONTRACTUAL AGREEMENT.
i. Employment Agreement.
ii. Service Agreement.
iii. Lease Agreement.
iv. Partnership Agreement.
v. Loan Agreement. e.t.c
HOW TO PROTECT YOUR CONFIDENTIALITY IN A CONTRACTUAL AGREEMENT IN NIGERIA.
1.Confidentiality Clause: it is one of the important features of a contract and it ensures that parties do not disclose nor misuse the other person information without a written consent which must not be unnecessarily withheld by parties.
2. Non Disclosure Agreement: it is a legal contract or agreement between parties with the main aim of legally protecting both parties information from disclosure to the third parties. It simply means that a confidential relationship exist between the parties involved.
In conclusion, contractual agreement are inevitable in our world today and it requires parties to open themselves up to another. However, the importance of keeping confidentiality without disclosure to unnecessary third parties cannot be overemphasized and Section 37 of the 1999 constitution protects a person’s privacy absolutely.
