How To Conclude A Contract

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How To Conclude A Contract
How To Conclude A Contract
Video: How To Conclude A Contract
Video: Elements of a Contract 2023, February

A contract is a bilateral agreement, that is, an agreement between the parties about something. We face the need to conclude a contract not only in business, but also in everyday life, for example, when renting an apartment or when selling a car. Usually the contract is related to the disposal of property, but there are also contracts for the performance of work or the provision of services. To conclude a contract, you need to adhere to the classic contract structure.

How to conclude a contract
How to conclude a contract


Step 1

Preamble. The parties to the contract, their surnames and full names and patronymics are indicated here; what is the name of each of the parties (buyer-seller); party status - citizen or entrepreneur; on the basis of which they act (certificate of the entrepreneur, passport).

Step 2

The main part of the contract contains information about the item. Without agreement on a specific type of property, type of service or a list of works, the contract is considered not concluded. This means that such an agreement does not legally entail any consequences. It is unlawful to refer to such an agreement or to testimony about the conclusion of a void agreement.

Step 3

It is important to provide for other essential terms of the contract: terms of fulfillment of obligations, cost of the item, warranty obligations, conditions of transfer and delivery, payment procedure, liability of the parties for non-fulfillment of obligations.

Step 4

Addresses, details and signatures of the parties. The information necessary for the execution of the contract is indicated here: address, passport data, TIN, insurance certificate number. When signing a contract, you need to make sure that the signature is put by the party to the contract. If this is a representative of a party, a copy of a valid power of attorney must be attached to the contract.

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