How can you conclude contracts with partners, clients or ...?

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...suppliers? What are the legal aspects of concluding and executing contracts, as well as dispute resolution mechanisms?

20.06.2023 15:41 378

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Photo of sikorsky.y.o Yaroslav Sikorsky

Compliance with the procedure for concluding a business contract is a legally established requirement. Despite the fact that the parties usually independently determine the content of the contract based on the principle of freedom of contract, the procedure for concluding it is regulated by law. The main purpose of any contract is to achieve the goals that the parties sought to achieve, and in short, after fulfilling the terms of the contract, each party should be satisfied with the results of cooperation. Compliance with such an important contract conclusion procedure is a guarantee that the contract will be fulfilled in the future, and economic entities will receive benefits from it (not necessarily material only) and mutual benefit.

According to the general conditions of the conclusion of the contract, a number of components must be present, such as: mutual agreement on all essential terms of the contract, submission of a proposal for conclusion (offer) - acceptance of the proposal (acceptance), indication by the parties of the place and time, moment, from which the contract is considered concluded, as well as other features for certain types of contracts.

The contract is considered concluded if the parties have reached agreement on all essential terms of the contract in the proper form. This rule is specified in Part 1 of Art. 638 of the Civil Code of Ukraine.

In the event of a breach of contract by a party, the other party may demand compensation for damages, including by applying to court.

21.06.2023 09:16

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