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Comparison of Contract Law of the People's Republic of China with The...

Travis Texas Comparison of Contract Law of the People's Republic of China with The United States

Name: Travis Texas Comparison of Contract Law of the People's Republic of China with The United States
Brand: US Legal Forms
Rating: 4.76 (366 reviews)

Category:

Contracts - Contract Law

State:

Multi-State

County:

Travis

Control #:

US-00103BG

Format:

Instant download

Description

A comparison the United States law of contracts with the law of contracts of the People's Republic of China.

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FAQ

The U.S. trade with China is part of a complex economic relationship. In 1979 the U.S. and China reestablished diplomatic relations and signed a bilateral trade agreement.

Why You Need a Business Contract Lawyer. If you're asking whether you need a lawyer to draft a contract, legally, the answer is no. Anyone can draft a contract on their own and as long as the elements above are included and both parties are legally competent and consent to the agreement, it is generally lawful.

Written contracts make sense in China because of the major improvements in China's legal system over the past decade. These improvements have occurred because Chinese businesspeople have found they need written contracts to make business work in China.

An agreement cannot be said as a Contract unless and until it is enforced by law. A Contract is an agreement that is accepted by both parties and is enforceable by law.

Any agreement that two parties make can be legally enforced, whether it's written or verbal. A signed document is important to have since it provides proof that an agreement exists and shows both parties agreed to identical terms.

Generally, to be legally valid, most contracts must contain two elements: All parties must agree about an offer made by one party and accepted by the other. Something of value must be exchanged for something else of value. This can include goods, cash, services, or a pledge to exchange these items.

The Contract Law of the People's Republic of China is a law in the PRC that came into force on October 1, 1999. It is the main source of contract law in the PRC.

If a breach of contract occurs, you have the right to sue for damages, which may result in a judge awarding you damages to compensate you as the injured party. Specific Performance occurs when a judge orders the party in breach to fulfil the terms of the contract when damages or compensation are deemed insufficient.

The contract should be enforceable in a Chinese court with jurisdiction over the defendant. This normally means jurisdiction in a court in the district where the defendant has its principal place of business.

How are private international business agreements generally enforced? The first method of enforcing ones rights pursuant to an international agreement is through a lawsuit or judicial action. When a dispute involves multiple parties from multiple countries, it becomes an issue as to how and where to handle the dispute.

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Travis Texas Comparison of Contract Law of the People's Republic of China with The United States

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How to fill out Travis Texas Comparison Of Contract Law Of The People's Republic Of China With The United States?

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FAQ

Is there a trade agreement between US and China?

Can I make my own legally binding contract?

Are there contracts in China?

Can an agreement be enforced?

Is a written agreement between two parties legally binding?

How do you legalize a contract between two parties?

Does China have contract law?

How can contracts be enforced?

How do you enforce a contract in China?

How are international contract enforced?

Interesting Questions

What is the purpose of contract law in China and the United States?

How do the contract laws of China and the United States differ?

What are some key similarities between Chinese and American contract law?

What role does written documentation play in Chinese and American contract law?

How are contractual disputes typically resolved in China and the United States?

Do both China and the United States recognize verbal contracts?

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