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Civil law. Part II. Elements of a purchase and sale agreement (the most important)

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2. ELEMENTS OF A PURCHASE AGREEMENT

By the parties The contract of sale are the seller and the buyer.

Subjects contracts can be: citizens, legal entities and the state. In some types of sale and purchase agreement, the possibility of participation of certain subjects of civil law depends on the volume of their legal capacity and legal capacity, as well as on the type of real rights to the property being sold.

The subject contracts of sale may be property not withdrawn from civil circulation, and property rights (clause 4, article 454 of the Civil Code). Obligations of subjects (for example, debts) and intangible benefits cannot be the subject of sale and purchase.

Price The sales contract is negotiable. It is determined both in Russian rubles and in the currencies of other countries, however, payment in the Russian Federation must always be made in Russian rubles. The price of some goods (eg energy resources) may be set by the state. The price is an essential condition of the contract of sale only in two cases: when selling goods by installments and when selling real estate. The absence of a price in other contracts of sale means that the payment must be made at the price that exists for similar goods (paragraph 3 of article 421 of the Civil Code).

Period The contract of sale in its various forms plays a different role. So, in contracts for the supply and sale of goods on credit with an installment payment, it is an essential condition, while in others it is not. . If the term of the contract is not defined, then the goods must be transferred within a reasonable time, and payment for it is made after the transfer of the goods (Articles 314, 457, clause 1 of Article 486 of the Civil Code). If the violation of the deadline for the execution of the contract entails the loss of its meaning for the buyer, such a contract is called a contract for a period (paragraph 2 of article 417 of the Civil Code).

Form Sales contracts are most often verbal. The following agreements must be made in writing:

▪ sale of real estate (such agreements are subject to mandatory state registration);

▪ foreign trade transactions;

▪ with the participation of legal entities;

▪ between citizens in the amount of more than ten minimum wages (except for those cases when transactions are made at the time of their conclusion).

Order of conclusion The contract of sale is governed by Ch. 28 of the Civil Code, however, in contracts for the supply (Article 507 of the Civil Code), retail sale (Articles 493, 494 of the Civil Code), supplies for state needs (Articles 527, 529 of the Civil Code), energy supply (Article 540 of the Civil Code), he has his own peculiarities.

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