Legal encyclopedia. Letter K

CONTRACT

- an agreement having legal force between two or more parties, the conclusion of which is a proposal made by one of the parties to the other and accepted by the latter. K. includes the obligations of the parties, expressed in oral or written form.

Certain contracts for

Validity is in writing. These include:

1) promissory notes;

2) transfer of copyright;

3) contracts related to maritime insurance;

4) transfer of shares of the company;

5) purchase in installments, agreements on sale on credit and certain types of contracts for sale.

Foreign trade contracts contain the following sections:

1) determination of the parties;

2) the subject of the contract; 3) the price and the total amount of the contract;

4) terms of delivery of goods;

5) terms of payment;

6) packing and marking of goods;

7) guarantees of sellers;

8) penalties and damages;

9) insurance;

10) circumstances of force majeure;

11) arbitration.

K may include:

1) technical specifications;

2) licensing terms;

3) conditions of testing, acceptance, business trips;

4) requirements for technical documentation, packaging, etc.

Classification K .:

1) invalid - in fact never existed, for example, if there is a fundamental error regarding the subject of the contract, K. is legally considered non-existent;

2) continuous - in accordance with the terms of which the contract is reduced not to one transaction, but to a number of contracts concluded in a certain period of time;

3) disputable - K., which can be annulled as a result of actions of one of the parties on it;

4) executed to a large extent -if there is a significant fulfillment of obligations by one party, the other party must make a full payment and initiate a legal action for damages in respect of that part of the work that is performed in violation of the obligations;

5) confirmed in writing - despite the fact that it is valid, can not enter into force until its written confirmation (contracts for the provision of guarantees and contracts for the sale or other use of land or related income).