Collateral contract

Collateral contract

Introduction

The contract is a voluntary agreement, verbal or written, expressed in common between two or more people with capacity (parties to the contract), which require there under, regulating a particular purpose or thing concerning their relations, and whose compliance could compellers reciprocally, if the contract is bilateral , or compellers one party to the other, if the contract is unilateral . Is the contract, in short, an agreement of wills that generates' related rights and obligations ", i.e., only to the contracting parties and their successors. But besides the voluntary agreement, some contracts require to be further refined, other legal acts or acts, such as making a specific delivery (actual contracts), or require special document formalized in (formal contracts) scope, so that in these special cases, not just the one will. Anyway, the contract generally connotes wealth, even partly in those concluded in the framework of family law, and is part of the category of the broader legal business. Elementary function is because legal effects of the contract (i.e., enforceable obligations) so that this relationship does not result in subjects any legal effects can be attributed contractual quality.

Discussion A collateral contract is referred to a contract in which he consideration is considered to be the entry into another contract. In addition to this, the consideration also co exists side by side with the main contract. It could be undersood that a collateral contract is formed when one party pays gets ready to pay a certain amount to the other party for entry into another contract. Most of the civil codes of the countries whose legal systems historically come from the Roman-Germanic system canonical and contain approximate contract definitions. Most of them, follow the guidelines initiated by the French Civil Code , heir to the Napoleonic Code , Article 1101 provides that the contract is an agreement by which one or more persons bind with another or others, to give, to do, or not do something.

The BGB, German Civil Code prescribes for his part that the formation of a business obligation by legislation, as amended in any obligation content of a business, a contract between the parties is required, unless otherwise provided by law mode. For its part the Swiss Civil Code states that "no contract if the parties in a manner consistent manifest their mutual will, this manifestation may be express or implied."

The Civil Code of the former Soviet Union only stated that "legal acts, i.e., acts that tend to establish, modify or terminate relationships of Civil Law , may be unilateral or bilateral (contracts). "

The Spanish Civil Code, in its art 1254, like all of Europe continental, also follows the trail marked by the Napoleonic Code , so that has ruled that the contract existed for one or more persons agree to be bound, for another or others, to give something or provide a service. The Argentine Civil Code, in its art 1137, provides that no contract when several people agree on a common declaration of intent, ...