Question

In: Economics

please present a law case in contract law in china

please present a law case in contract law in china

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Expert Solution

This Law of contract in capitalist economies is the concept of freedom of contract is formulated in order to protect the lawful rights and interests of contract parties, to safeguard both economic and social order. The Chinese Law of contract follows the Continental civil law tradition. As per Article 2 of the Contract Law, a contract is an agreement among natural persons, legal persons or other organizations as equal parties for the establishment. As per contract law the contract in China must meet some basic standards like, the contract is governed by Chinese law, the governing language must be Chinese in contract, the place of litigation must be in the district where the Chinese defendant has its principle place of business.
According to Article 2 of the Contract Law on marriage and other personal relationships provides, “A contract in this Law refers to an agreement among natural persons, legal persons or other organizations as equal parties for the establishment, modification of a relationship involving the civil rights and obligations of such entities.” Contract Law only regulates contractual relationship relating to personal property as opposed to personal relationships.
According to contract law the parties shall observe the principles of honesty and good faith and shall perform their respective contractual obligations in strict accordance with the agreed contract. The parties are required to abide by the obligations in terms of notice, assistance and confidentiality in line with the nature and objective of the contract and the relevant trade practices.
As per contract law Contract Law, if the contract for sale of goods or services is silent on quality specification for the goods or services, the seller shall not intentionally select and deliver goods or services that are of inferior quality.


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