STATUTORY INTERPRETATION

Statutory interpretation

Statutory interpretation

Improve certainty of contractual relations in those sectors.

The significant imbalance of rights and obligations of the parties to the contract and sudden rupture of commercial relations are part of difficulties frequently encountered by SMEs in their relations commercial. Yet such practices are prohibited by the device current law. commercial contracts whose charges are supported by only one party while the other draws the benefits Uses may be irregular due to: n to impose subcontractor insurance to cover all damage resulting from improper performance of the contract or default product safety, while the amount of damages is disproportionate relative to the value of the product; unilaterally amend the contract specification without readjustment of prices; practice of excessive late penalties covering all the direct or indirect costs; refuse to provide fair compensation for the efforts of subcontractor with respect to the ordering in terms of software, education, know how, etc; to impose excessive secrecy, more precisely obligation of non-disclosure by the subcontractor relationship business it has with the customer.

A contract is a voluntary agreement between two or more persons. In general, a verbal contract is as valid as a written contract and commits the Contracting Parties in the same way. However, it can sometimes be difficult to prove the existence of an oral contract, in case of failure of a party to meet its obligations. Certain types of contracts require a particular form, or even "solemn." This is the case among other marriage contract, donation, mandate in case of incapacity and the creation of a mortgage. The law requires these contracts in writing, as well as other specific procedures, both for the conclusion of the engagement for any subsequent amendment (GALLOPS, 2005).

Validity of verbal agreement

Verbal agreement or verbal contract is a contract based business promises spoken rather than a written document. There is an old joke that such agreements are not worth the paper they are written but verbal agreements are legally binding and enforceable as a written contract. If you have to take the other party to the court, however, the terms of an oral agreement may be difficult to prove.A legally binding oral agreement must meet the same standards as a written contract. Contract law requires both parties to exchange some "consideration", which can be services, cash, real estate or personal property.

Some contracts must be in writing: If you are buying or selling real estate, for example, you can only transfer the title of a written document, such as a deed. Another limitation is that courts rarely enforce an oral contract that lasts for more than a year. The states may have laws that impose additional restrictions, so check the law before closing the deal (HONIGMANN, 2007).

Even if the law allows you to make a binding oral agreement, it helps to have something in writing. A memorandum or letter of the definition of the terms that have accepted and signed by both parties not only provides protection, it gives you and your partner a ...