Contracts. Types and characteristics

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Features and types of contracts in Anglosaxon Legal System

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Contracts. Types and characteristics

  1. 1. III. MAIN LEGAL TEXTS 3.1. Contracts
  2. 2. 2.1. Conditions to subscribe a contract <ul><li>There is an offer by one party ( offeror) accepted by an offeree </li></ul><ul><li>Enforceable contract , parties must agree on price + subject matter </li></ul><ul><li>Enforceable agreement may be manifested in express contract or implied contract </li></ul>
  3. 3. Common clause types <ul><li>A) Acceleration: cláusula de amortización anticipada </li></ul><ul><li>B) Assignment: cesión / traspaso </li></ul><ul><li>C) Confidenciality: confidencialidad </li></ul><ul><li>D) Consideration: prestación </li></ul>
  4. 4. <ul><li>E) Force Majeure: fuerza mayor </li></ul><ul><li>F) Liquidated Damages: indemnización por daños y perjuicios </li></ul><ul><li>G) Entire agreement: </li></ul><ul><li>H) Severability </li></ul><ul><li>I) Termination: cese, extinción </li></ul><ul><li>J) Payment of costs: pago de las costas </li></ul>
  5. 5. Defences to contract formation <ul><li>1- Illegality of the subject matter </li></ul><ul><li>2- fraud in the inducement </li></ul><ul><li>3- duress: coacción </li></ul><ul><li>4- lack of legal capacity </li></ul>
  6. 6. Contract remedies <ul><li>Pecuniary compensation </li></ul><ul><li>Specific performance: cumplimiento del contrato </li></ul><ul><li>Rescission of the contract: extinción del contrato </li></ul>
  7. 7. Main types of contracts <ul><li>A) Purchase-sale contract: contrato de compra-venta </li></ul><ul><li>B) Lease or leasehold: contrato de arrendamiento </li></ul><ul><li>C) Contract of employment: contrato de trabajo </li></ul>
  8. 8. a) Purchase- sale contracts <ul><li>Types: real property, materials </li></ul><ul><li>Must be legalised by deed (escritura) </li></ul><ul><li>Can be terminated by performance of contract, mutual consent, novation or breach of contract </li></ul>
  9. 9. B) Lease or leasehold <ul><li>Parties: owner of a real state (bien immueble) or lessor and tenant </li></ul><ul><li>Covenants (pactos): parties to the contract, term / length, description of real property, rent, insurance, repairs and maintenance </li></ul><ul><li>Types of tenancy (arrendamiento): a) for a fixed term b) periodic c) tenancy at will (inquilinato sin plazo fijo) </li></ul>
  10. 10. C) Contract of employment <ul><li>Types: full time or part-time </li></ul><ul><li>Causes of the termination : unfair dismissal (despido improcedente), redundancy (despido por regulación de plantilla) </li></ul><ul><li>Remedies applied by Industrial Tribunals (unfair dismissal): reinstatement, reengagement, compensation </li></ul>

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