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"A contract is a legally binding agreement made between two or more parties, by which rights are acquired by one or more to acts or forbearances on the part of the other or others".(from the book:" Principles of the Law of Contracts" /Author: Sir William Anson)
NOTE: "Agreement arises as a result of offer and acceptance, but a number of other requirements must be satisfied for an agreement to be legally binding"*.
So every contract is an agreement, but not every agreement is a contract.
* Oxford Law Dictionary
GENERAL PRINCIPLES OF CONTRACTS UNDER IRANIAN CIVIL CODE
A part of the Iranian Civil Code covers Contract law in general and is inclusive of laws which encompass international business law. Below are some of the most important items:
The
pre-requisite conditions for a valid contract under the Article 190:
-Intention and Consent of the parties;
-Capacity of the parties;
-The object of the contract should be determined;
-Legality of object;
The contracts entered into in accordance with the law are binding until
they are terminated by the parties or for a legal cause. (Article 219)
If one makes an obligation to do or not to do something, he would be
responsible for the indemnification of the damages occurred by his breach
of that obligation, IF IT IS EXPLICITLY MENTIONED IN THE CONTRACT OR
PROVIDED BY CUSTOM OR LAW.
NOTE: If you are interested in knowing the related aspects of Iranian law of Contracts to your business, let us know.
…is when an international element in terms of nationality or place (of performance or conclusion) lies within a contract.
NOTE: It is not possible to make an agreement which ousts the jurisdiction of the courts of law. SUCH A TERM IS VOID.
SOME OF THE IMPORTANT SUBJECTS WITH REGARD TO INTERNATIONAL BUSINESS CONTRACTS
These are some of the important subjects in which businessmen are most involved. For more information please inform us about your own problem area to serve you more information.
Framework
(the most important from a legal point of view comes hereunder)
-subject matter
-the place of performance
-obligations
-Settlement of disputes
-Governing Law
General
Provisions
-Definitions
Formation
-withdrawal, revocation, rejection of offer
-mode, time, withdrawal of acceptance
-the place of conclusion (important in Jurisdiction)
-Negotiations in bad faith
-Duty of confidentiality
-Merger Clauses
-Written Modification Clauses
-Surprising Terms
-conflict between standard terms and non-standard terms
Validity
-Relevant Mistake
-Error in expression or transmission
-Fraud
-Threat
-Gross disparity
Interpretation
Content
Performance
Non-performance
-Exemption Clauses
-Force Majeure
Termination
-Restitution
-Right to Damages
-full Compensation
Iran Business Lawyers at Dr.Shamsaei & Associates regularly assist with the drafting, negotiation, preparation, reviewing and also legal handling of International business contracts such as Agency Agreements, Joint-Venture Agreements, Buying & Selling businesses, representation agreements, ….
Further more, if you need legal consultation, you can ask us to issue an advisory legal opinion especially on your case.
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The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.
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