Commercial Contracts: Key Concepts and Requirements
COMMERCIAL CONTRACTS -
INTRODUCTION
Dorota Wieczorkowska
Department of Business and Commercial La
w
Faculty of Law, Administration and Economics
University of Wrocław
BASIC INFORMATION
•
Teachers:
•
Mgr Dorota Wieczorkowska (
dorota.wieczorkowska@uwr.edu.pl
)
•
Mgr Kacper Wosiak (
kacper.wosiak@uwr.edu.pl
)
•
Office hours:
•
Mo
n
days, 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 w
h
ich 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 con
s
titute the essential principle on which social and economic
life is based.
•
Agreements are necessary to support exchange relationships.
TYPES OF CONTRACTS
EXAMPLES
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
•
CONFIDENTIALITY
•
NON-COMPETITION
•
TERM
•
TERMINATION
•
ENTIRE AGREEMENT/MERGER CLAUSE
•
SEVERABILITY/SEVERANCE
•
NOTICES
•
ASSIGNMENT
•
JURISDICTION
•
GOVERNING LAW
•
ARBITRATION
•
MEDIATION
•
AMENDMENT
•
SURVIVAL
•
DEFAULT
•
WAIVER
•
WARRANTIES AND REPRESENTATIONS
•
COUNTERPARTS
•
BINDING EFFECT
WHAT TYPES OF COMMERCIAL
CONTRACTS DO YOU KNOW?
•
???
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? ???
