What Is A Contract

What Is A Contract
What Is A Contract

Video: What Is A Contract

Video: What Is A Contract
Video: What is a contract? 2024, November
Anonim

Most relations in modern society are built on the basis of agreements between the parties to take on certain responsibilities. The agreement of the partners is the basis of the whole system of business relations. To have an idea of what a civil contract is is useful not only for entrepreneurs, but also for any person who is faced with rent, sale and purchase and other contractual relations.

What is a contract
What is a contract

The term "contract" has various meanings. This term means a document securing the compilation of legal obligations, a contractual obligation and a legal fact, the basis of which it is. An agreement, in the cases provided for by law, can be recognized as a certain document, which contains information about the circumstances that have occurred. The contract is the most common type of transaction. Only a small part of unilateral agreements does not apply to it. The rules on multilateral and bilateral transactions are applicable to contracts, and general provisions apply to obligations arising from them, unless otherwise provided. The parties to the agreement can be individuals and legal entities, including states, municipalities and international organizations. The contract has many types: donation, sale and purchase, rent, contract, rental of residential premises, bank deposit and others. The contract can be compensated and gratuitous. It is compensated if at least one of the parties receives payment or other compensation for the fulfillment of its obligations. Like any transaction, a contract is an act of will, which, however, is endowed with specific features. It reflects the common will of two or more persons, but not their scattered volitional actions. The contract is intended to express a concerted will, which is aimed at achieving a goal consistent with the rule of law. Note that the general will is enshrined in the document, which must be free from external influences. In order to ensure the freedom of the contract, the observance of which is important in a market economy, a set of rules is enshrined in Article 421 of the Civil Code. Freedom of contract implies that in deciding whether to conclude it or not, the subjects are absolutely free from external interference and influence. By way of compulsion, the conclusion of an agreement takes place only when it is in the interests of the person who is obliged to conclude it, or in the interests of society. It also provides for the freedom to choose a partner, guided by which you can prefer the counterparty offering the most favorable terms of the transaction.

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