Economic Contracts Social Studies/Economics Prof. Eduard I. Colegiul Economic,, Anghel Rugina” Vaslui 2009

Descriptive Overview: This lesson will present criteria for the classification of economic contracts, terms of conclusion, the effects of contracts, place and time of conclusion of contracts.

Lesson Objectives/Goals: Students will:  criteria for the classification of economic contracts  after manifestation of the will of the people  depending on the mode of formation of contracts  by the way that equates the performance of a part  after the manner of execution  according to legal regulations  depending on the nature of contracts  according to the terms of the contract

Part II  conclusion of contracts  conclusion of contracts involve three components: offer (a proposal to contract), acceptance (manifestation of the desire to contract the supply recipient) and finally, meeting the concordance between offer and acceptance The offer represents a proposal to contract, carried out by one person (bidder), to another specific person. In the form, details may be made in any form: written, verbal, tacit. Acceptance consists in the manifestation of will to address supply contract, as provided in the offer that has been addressed for this purpose. In terms of form, acceptance may be express or tacit.

Conclusion of the contract is made when that meets acceptance offer, so if the parties are present at the contracting of building is pure and simple. If agreement is concluded by telephone shall be considered as part of concluding the contract is face.Place which is now part of the agreement will achievements. In case the agreement is concluded by telephone, instead of closing it is deemed to be registered or domiciled bidder. When concluding the contract by correspondence is achieved when the acceptance came from the vendor. Place of conclusion of the contract in such a situation is considered to be the place where the offeror to receive acceptance.

The effects of contracts are the birth, modification or extinction of rights and obligations between the contracting parties, and sometimes towards third parties. The main issues relating to the effects of the contract are: binding contract between the contracting parties, third parties contracted to relativity effects, specific effects of bilateral contracts. a)The principle of binding force of contract, the importance of: -contractual obligations in good faith must always be respected. -contracting parties are bound to perform, to each other, obligations to which they owe to the terms and conditions. -if a dispute is binding and requires the court, which is obliged to take account of the contents of the contract. -contract may be revoked by the will of one of the contracting parties.  The effects of contracts

b) The principle of relativity effects of contract against third parties: -contract is that force does not, by rule, binding on third parties. Third parties are strangers to the contract, which did not participate either directly or indirectly in the contract. c) Bilateral Contract -is the contract that generates, on its conclusion, the mutual obligations of both parties and interdependent task. Obligations of reciprocity and interdependence characteristic of bilateral agreements, under certain specific effects: except for non- compliance, and risk-contract rezolutiunea contract. When one party has not performed its obligation, but claimed his and the other one run, the party may be claiming to oppose the execution, citing the exception of non-performance. Conditions to invoke the exceptions are: -mutual obligations of the parties and have been under the same contract.

- failure is not due to the fact that invoking the exception. -parties have not agreed a one-term performance of mutual obligations. Arrest exception to the obligations of a claim that, until the other party will fulfill its obligation and responsibility. Rezolutiunea Rezolutiunea means that a party started and run the obligation, the other side of a fault and refuse to execute. Rezolutiunea contract is guilty of non-execution of a sanction consisting of bilateral contracts retroactive cancellation of its previous situation and restore the parties to conclusion.

Vocabulary / Dictionary Purchase sales contract: Article 1294 Civil Code defines selling novel as "an agreement by which two parties are obliged between themselves, one to transmit other property of a thing and it's paying the price first. Contractual offer/Acceptance of offer: is that expression of will by the recipient legal tender offeror proposed contract in other conditions than those proposed in the initial offer. Conclusion of the contract : the parties will achieve agreement on contract terms. Effects of contract: principle of binding force of contract; principle of relativity effects contracted to others ; Risk contract : sinalagmatic consequence of non-execution of the contract due to inability fortuitous, so a case independent of any fault of any of the parties. Rezolutiunea sanction non-execution of the contract sinalagmatic mistakes, consisting of its retroactive cancellation and reinstatement of the parties in the situation had earlier conclusion.