Civil law. Part II. Elements and contents of an exchange agreement (the most important)

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Civil law. Part II. Elements and contents of an exchange agreement (the most important)

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23. ELEMENTS AND CONTENT OF THE AGREEMENT OF EXCHANGE

The subject exchange contracts can be negotiable goods, free from encumbrance, as well as property rights (clause 2 of article 557 of the Civil Code). The subject of the contract is the only essential condition of the contract. The exchanged goods are assumed to be of equal value (clause 1 of article 568 of the Civil Code), and in the event of a difference in their price, an additional payment is made by the party that presented the goods of a lower value (clause 2 of article 568 of the Civil Code).

As the prices the value of the delivered goods is the value of the goods received.

Hand contracts do not have a special name, but their peculiarity lies in the fact that each party is both a seller and a buyer at the same time. The composition of the participants of the parties is somewhat limited: the state cannot be a party to this treaty. Only legal entities and citizens can act as parties, and the latter must have civil capacity, and all participants must have property in rem.

Period agreement is determined by the parties. It is assumed that the transfer of goods must be carried out simultaneously, but the law does not exclude the possibility of transferring goods under this agreement at different times. In the event that the goods are transferred by the parties simultaneously, the right of ownership to it arises from the moment of such transfer. In the same case, when the goods are transferred at different times, the right of ownership of the parties arises only after the transfer of goods by both parties (Article 570 of the Civil Code). The last provision is new in civil law. To contracts under which goods are transferred at different times, the rules on the counter performance of obligations (Articles 328, 569 of the Civil Code) are applied.

Form An agreement can be oral only in two cases:

a) in contracts between citizens for an amount of at least ten times the minimum wage;

b) between all subjects, if the agreement is executed upon its conclusion. In all other cases, the agreement must be concluded in writing (Articles 152-162 of the Civil Code).

Order of conclusion contract is similar to the procedure for concluding a contract of sale.

Features of the content of the contract:

▪ the rights and obligations of the parties are the same, and the obligations of one party correspond to the rights of the other party;

▪ the main responsibilities of the parties are the transfer of goods into the ownership of another and the incurrence of expenses for the transfer and acceptance of goods. The costs are borne by the obligated party (clause 1 of Article 568 of the Civil Code).

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