CONTRACT LAW

Contract Law

Contract Law

Sale Contract Law

The sale contract is one of the most important traditional contracts of civil law, having a long history of development. Already in the law, a contract of sale formed as a consensual contract. It refers to an agreement whereby one party - the seller shall provide the other party - the buyer thing, a commodity, and the other party - the buyer agrees to pay the seller for a specified thing a money price. This law has been known as a contract for the sale of future different things, in such cases, the contract for the sale or expected future things, but the sale is considered a perfect condition precedent. Contract of sale could be subject to its incorporeal thing as, i.e. property right - the right to claim the right of usufruct, etc (Andrews, 2011, p.762).

In accordance with (Purchase Agreement) under a contract of sale, one party (seller) agrees to transfer the thing (product) in the ownership of the other party (the buyer), and the buyer agrees to accept the goods and pay for it a sum of money (the price). A characteristic feature of the contract of sale - it buying property in the thing, the buyer pays the seller the agreed price items, and in other words, the seller gets the property counter satisfaction (Twigg-Flesner, 2008, p.176). Among the treaties recognized by certain types of sale and purchase agreement include: a contract of retail purchase and sale contract for the supply of goods, contract delivery of goods for state needs, the contract of contracting, contract energy, real estate sales contract, the contract of sale of the business, and the contract of sale of different items, as well (Andrews, 2011, p.762).

Isolation of these species the contract of sale is the first goals of the simplest and best legal regulation of similar relationships. Hence, the rule those contracts are subject to the above alternative, the application of the general provisions of the Civil Code governing the contract of sale. The purpose of the contract of sale is the transfer of the ownership of the thing, which serves as a commodity to the buyer (Andrews, 2011, p.762). As a general rule, ownership of the acquirer things on the contract of sale arises from the transfer, unless otherwise provided by law or contract of sale. In cases where the disposition of the property subject to registration, ownership in the acquirer arises from the time of such registration, unless otherwise provided by law. Goods under a contract of sale are recognized all things, both movable and immovable property of the individual-specific or fungible (Andrews, 2011, p.762).

By buying and selling of securities and foreign exchange values ??of a contract of sale shall apply, unless the law has special rules. By virtue of the law of the Civil Code, a contract of sale may be concluded for the sale of goods held by the seller at the time of sale and purchase agreement, as well as, goods that will ...