Contracts - Introduction
12 important questions on Contracts - Introduction
What are the global principles of contract law that are common to all legal traditions? And explain them.
- Party autonomy: legal subject. Freedom to contract on (what and how)
- Consensualism: If parties agree (by offer and acceptance) the contract originates
- Binding: Parties are bound to perform as agreed
- Relativity (Privity): Contracts only bind the party to it.
What are the two most relevant contracts according to Business perspective?
Service contract: for intangible performance.
What is Contractual Pluralism?
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Give some purpose of how B2B contracts can serve:
- Define obligations and conditions
- Distributes Risks
- Protect intellectual property rights
- Define dispute resolution methods and remedies
- Ensuring compliance with law and codes
- Contribute to reputation
Identifies four steps in B2B contracting and identifies potential legal risks for each step.
- Negotiations: Pre-contractual, liability
- Formation: Offer, Acceptance, Capacity
- Performance: Interpretation, Breach, Force Majeure
- Dispute resolution: Method, Remedies
What types of Business contracts does the Customer (Party) have?
- Sales
- Services
What types of Business contracts does the Partners (Party) have?
Joint ventures
Alliances
Licensing
Investors
What types of Business contracts do the Suppliers (Parties) have?
Service level
Financing
Employees
Advertising
What types of Business contracts do the Intermediaries (Parties) have?
Distribution
Franchising
Wholesale
What types of Business contracts do the Miscellaneous (Parties) have?
Grants
Donations
Transport
Does Law generally distinguishes B2B and B2C contractual relationships?
EU legislation defines a consumer as any natural person who is acting for purposes that are outside his trade, business or profession.
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