Understanding the Contract The contract is the most crucial source of obligations under the law of obligations and, at the same time, represents the central institution within the proper communication between the contracting parties.
The contract is a legal fact that is essential in various fields (or different legal and economic branches) in international law, as well as in family law, civil law, commercial law, etc. The basis for concluding a contract is the achievement of a particular result between the contracting parties, aiming to establish, change, or terminate a specific legal relationship.
In legal theory, the contract is defined as the consent of
will between two or more parties, which come to establish, change, or terminate any legally binding relationship.
This implies that the contract is the result of the desire of the contracting parties, which determines this desire, which in legal science is called the “principle of autonomy of the will.”
The approval and observance of this principle have come because the parties regarding the regulation of their issues could better determine the terms and circumstances in the contract than the state to intervene with legal provisions.
Mainly in practice, given their action, we can classify contacts into three groups:
a) Contracts by which obligations are created;
b) Contracts with which the obligatory relations change and, c) Contracts with which the required connections are terminated.
In practice, in most cases, the contracts under point (a) are presented to us.
The ability to create and enforce the contract is essential for the community of business. With the transfer of companies to electronic or online environments, the contracting process should be coherent with the trend. Thus, we need to address the legal issues raised by the contract entry process using electronic means.
Of course, care must be taken that the parties have established a valid and binding contract which both parties trust and which will be compulsory in court in the event of a dispute. For both parties in the process, this requires a rethinking and analysis of some elementary concepts.
