Understanding Commercial Contracts: Key Concepts and Requirements
Explore the fundamentals of commercial contracts, including the definition and importance of agreements, freedom of contracts, and types of contracts. Get insights into the course requirements for passing and engage with essential information provided by the Department of Business and Commercial Law, University of Wrocław.
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COMMERCIAL CONTRACTS - INTRODUCTION Dorota Wieczorkowska Department of Business and Commercial Law Faculty of Law, Administration and Economics University of Wroc aw
BASIC INFORMATION Teachers: Mgr Dorota Wieczorkowska (dorota.wieczorkowska@uwr.edu.pl) Mgr KacperWosiak (kacper.wosiak@uwr.edu.pl) Office hours: Mondays, 16:45-18:45, room 110 C (in the skyway)
REQUIREMENTS FOR PASSING THE COURSE - CLASSES Attendance each student is entitled to one absence during the classes. Any additional absence, regardless of the cause, must be covered by passing the material discussed during the class in two weeks term from the day of the absence, during the office hours. Absence during more than 50% of the classes results into not receiving credits for the course (NC - Not Credited). Active participation in classes. Test the test covers topics discussed during classes. 13th of January 2020
COMMERCIAL CONTRACT A commercial contract refers to a legally binding agreement between parties in which they are obligated to do or restrain from doing particular things. The notion of agreement is that different people (entities) having different (even contradictory) objectives reconcile their differences in a mutually beneficial agreement which both sides believe to be binding. A contract is an agreement which can be enforced by the court.
FREEDOM OF CONTRACTS Freedom of contract-freedom to form contracts without government restrictions, that allows individuals to choose with whom to contract, whether to contract or not, and on which terms to contract. The contracting parties may arrange their legal relationship at their discretion, as long as its contents or objective are not contrary to the law, or the principles of life in community.
MEANING OF CONTRACTS Agreements constitute the essential principle on which social and economic life is based. Agreements are necessary to support exchange relationships.
TYPES OF CONTRACTS EXAMPLES Oral Contract Written Contract Fixed-term Contract Gratuitous Contract Fixed-price contract Open-ended Contract Contract for valuable consideration Time&Materials Contract
STRUCTURE OF A CONTRACT HEADING COMMENCEMENT AND DATE PARTIES RECITALS DEFINITIONS OPERATIVE PROVISIONS BOILERPLATE CLAUSES SIGNATURES & SEALS SCHEDULES & EXHIBITS https://www.docsketch.com/contracts/sales-contract-template/
STANDARD CONTRACTUAL CLAUSES FORCE MAJEURE ARBITRATION CONFIDENTIALITY MEDIATION NON-COMPETITION AMENDMENT TERM SURVIVAL TERMINATION DEFAULT ENTIRE AGREEMENT/MERGER CLAUSE WAIVER SEVERABILITY/SEVERANCE WARRANTIES AND REPRESENTATIONS NOTICES COUNTERPARTS ASSIGNMENT BINDING EFFECT JURISDICTION GOVERNING LAW
WHAT TYPES OF COMMERCIAL CONTRACTS DO YOU KNOW? ???
