Contract law. Contract of assignment (most important)

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Contract law. Contract of assignment (most important)

Lecture notes, cheat sheets

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57. CONTRACT OF ORDERING

On commission agreement one party (attorney) undertakes to perform certain legal actions on behalf and at the expense of the other party (principal), and the rights and obligations as a result of these actions arise directly from the principal

The contract of assignment is:

1) consensual;

2) mutual;

3) gratuitous - if remuneration to the attorney is not provided;

4) paid - if this agreement is connected with the implementation of entrepreneurial activities by at least one of its participants and if the law or the agreement provides for remuneration to the attorney.

The subject of the contract of assignment is the performance by one person on behalf of another of certain legal actions, the Law does not contain special rules on the form of this agreement proceeding from the fact that, as a general rule, the relations of its participants are formalized by issuing a power of attorney.

Parties to the agreement:

1) principal;

2) attorney.

Only able-bodied persons can act as parties.

Term and price (in a reimbursable contract) are determined by agreement of the parties. The contract can be both fixed-term and indefinite. The conclusion of an open-ended contract means that the parties have not determined in the contract the deadline for its validity, however, the issued power of attorney must contain an indication of the period for its issuance.

Rights and obligations of the attorney:

1) is obliged to personally execute the assignment given to him;

2) is obliged to act in strict accordance with the instructions of the principal;

3) has the right to deviate from the instructions of the principal only if it is necessary in the interests of the principal himself, and it is not possible to receive new instructions from him within a reasonable time;

4) is obliged to inform the principal of all information on the progress of the execution of the order;

5) is obliged to transfer without delay everything received under transactions made in pursuance of the order;

6) has the right to transfer the execution of the assignment to another person (substitute) in the case when he is authorized to do so by a power of attorney or is forced to do so by force of circumstances to protect the interests of the principal.

Rights and obligations of the trustee:

1) is obliged, first of all, to authorize the attorney to perform certain legal actions on his own behalf, issuing him a power of attorney for these purposes;

2) is obliged to reimburse the attorney for the expenses incurred and provide him with the funds necessary for the execution of the assignment;

3) after the execution of the order, the principal is obliged to immediately accept from the attorney everything performed by him in accordance with the contract, and if the contract was for compensation, then pay a fee;

4) has the right to cancel the order at any time.

Author: Rezepova V.E.

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