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Prenuptial agreement as defined by the dictionary is “an agreement made by a couple before they marry concerning the ownership of their respective assets should the marriage fail.”In simpler terms an agreement, prior to marriage, to establish property or financial rights of each spouse in event of divorce.In India, prenuptial agreements do not have any governing law. There is no explicit law which make prenups legal.However some form of contract is signed in some cases but the agreements must be reasonable and not violate pre-existing laws like the Hindu Marriage Act.Such agreements may come under the Indian contract Act 1872. However section 23 of the same act states that a contract may be void if “the court regards it as immoral,or opposed to public policy”.Goa and union territories of Daman and Diu and Dadra and Nagar Haveli are the only places in India where a prenuptial is legally enforceable, as they follow the Portuguese Civil Code, 1867. A prenuptial agreement may be signed between the two parties at the time of marriage, stating the regime of ownership. If a prenuptial has not been signed, then the marital property is simply divided equally between the husband and wife.Sources :Section 23 in The Indian Contract Act, 1872

Prenuptial agreements have existed, in various forms, for thousands of years. I doubt that anybody can identify the first such agreement.Quoting History of Prenuptial Agreements -- Prenups History:What is commonly known as a prenuptial agreement is not a new idea either legally or culturally. Women have wanted assurance that in the event of a divorce or death of a spouse that they wouldn't end up homeless."People have been making prenuptial agreements for thousands of years. Scholars tell us that the practice dates back to the ancient Egyptians, and that prenups have existed for many centuries in Anglo-American tradition. In previous times, the parents of the bride and groom negotiated the agreement on the new couple's behalf."Source: Prenuptial Agreements: How to Write a Fair and Lasting Contract, page 1/2.by Katherine E. Stoner and Shae IrvingExamples of Prenuptial Agreements in HistoryThe Ketubah, the Hebrew marriage contract dating back 2000 years ago, "is one of the first legal documents giving financial and legal rights to women."Source: Definition of KetubahDowries, often considered to be early prenuptial agreements, were mentioned in seventh century writings as a necessity.Source: Marriage in Early IrelandEdward IV reportedly had a pre-nuptial agreement with Eleanor Butler sometime between 1461 and 1464.Source: Michael Miller - Wars of the RosesElizabeth Oglethorpe, in 1744, before getting married, required General James Edward Oglethorpe to sign a prenuptial agreement protecting her property rights.Source: The Manor of Bishop's Ockendon

There is one interesting rule observed in all organisations, whether it is government or private.And the rule is that a person appointed for a position in a organisation can’t be dismissed from service by a person lower in rank of the appointing authority.For example, if an officer has been appointed by the President of the country, he can be removed only by the President of the country and not by a lower rank official.The institution of marriage was established in religion and marriage is considered to be a sacred and holy function, if it is performed with all the rituals.Once the marriages are considered to be sacred, it can’t be broken except by God i.e. by the death of one of the partner or on the basis of extreme situations that are provided in the Scriptures.However, in the modern world, marriages have become a civil contract which can be done in the Court. Hence, these marriages don’t carry any religious sanctity and can be broken easily by Court itself.When marriage is performed with all due rituals as a sacred function where parents and numerous relatives become a participant and also a witness, it takes the shape of a holy and sacred act.It would thus be difficult to break such marriages in future when the relationships would go up and down in future.However, as the divorce rates are rising, and husbands have to pay huge compensation in case of divorce, I foresee the institution of marriage itself getting outdated.The future lies in signing prenuptial agreement in lieu of marriage and it would be a civil contract that can be broken by paying suitable compensation according to agreement.Court marriages may be cheaper when performed, but extremely expensive if divorce is taken.Why go for court marriage and pay huge alimony when you can sign prenup and get all the benefits of marriage at much lower cost?Prenup would be even better and cheaper option than going to courts for marriage.It will make even court marriages outdated in future.