BASIC TERMS FOR CONCLUSION AND ENTRY INTO FORCE OF CONTRACTS

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BASIC TERMS FOR CONCLUSION AND ENTRY INTO FORCE OF CONTRACTS

Journal Title: Scientific Work - Year 2023, Vol 17, Issue 4

Abstract

The article highlights several key terms that must be considered when entering into a contract, including the offer, acceptance, consideration, and intention to create legal relations. An offer is a proposal made by one party to another, while acceptance is the agreement of the other party to the offer. Consideration refers to the exchange of something of value between the parties, and intention to create legal relations refers to the intention of the parties to be legally bound by the terms of the contract. The article also emphasizes the importance of certain conditions that must be met before a contract can be considered valid, including capacity, consent, and legality. Capacity refers to the ability of the parties to enter into a contract, while consent refers to their agreement to do so. Legality refers to the requirement that the contract must not violate any laws or public policy. The article discusses the concept of entry into force, which refers to the moment when the contract becomes legally binding and enforceable. This typically occurs when all of the terms and conditions of the contract have been agreed upon by both parties, and any necessary formalities have been completed. The "Basic Terms for Conclusion and Entry into Force of Contracts" article provides a useful overview of the key requirements that must be met for a contract to be valid and enforceable, and serves as a helpful guide for anyone entering into a contractual agreement.

Authors and Affiliations

Osman Suleymanli

Keywords

Keywords: contract agreement entry into force parties purpose of creating legal relations

EP ID EP754831
DOI 10.36719/2663-4619/89/81-87
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