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时间:2019-10-29
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1、Lesson1I.ObligationandcontractA.DefinitionAnobligationisalegallinkbetweentwopersons :accordingtoonebecomesthedebtorandacreditor.Therearetwokindsofobligations:-Abindingobligation:somethingyouneedtocomplywith-Anon-bindingobligation:youmayfinishthecontractwithoutanyconsequences.Al
2、lcontracts(legalrelationship)arebasedonthefreewill.Obligationareanundertakingtogiveortonotgive,todoortodonotdo.Contractisalegalact,whichmaterialisedtheexchangeoftwoconsents.Thefirstthingyouhavetodoistocheckbythelegalregime,whichisapplicable:isittheChineseortheFrenchlaw.Youhavet
3、owonderwhatthedateofeffectivenessofthecontract.Acontractcanbematerialisedbyanymeans:oral,emails.Everythingisamatterofevidenceinacontractualrelationship.Theconsentshouldbeclearwithoutanyreserveorwithoutanyconditions.Ifyouundertaketodosomethinginacontractyouarethedebtorandtheothe
4、rpartyisacreditor.Ifyouhaveseveralcreditorsitcanbecomecomplicated:iftheyarethreebuyersforyourhouse.Whoistherealcreditor?Inthiscasethecontractorscanbejointlyliablebyobligation.Forinstanceifthreepeoplebuyahouseandoneofthemisdoingarenovation:thethreecontractorsarejointlyliablebyob
5、ligation.B.DefiningtherightpartyDefiningtheproperpartyisabigissue.Forexamplewhenyouarerentingahouse,youhavetocheckwhoisthereallandlord.Relativeeffectofthecontract:contractonlybindsthepeoplewhohavesignedthecontract:theotherpeoplearecalledthirdparty.Ifyouaresigningacontractwithas
6、ubsidiaryoftheholding,whichhasnomoney:thesubsidiarymaynotbeabletorespectthecontract.IndeedacontractwithasubsidiaryCreatingacompanyinHongKongtakesoneweek.Youcanthuscreateasmallcompany(aninvestmentvehicle)inHongKongtoprotectyourinterestswithnewcontractors.Normallythirdpartieshave
7、norighttoclaimtheeffectofthecontract,exceptifyouaskthethirdpartytobeaco-contractor.Anotherpersonwhomaybeconcernbyacontractisadecedent.A.FormalismofacontractMostofthetimetheformalisationofacontractarenotcompulsory.Butmoreandmorecompaniesaskyoutosignlegalagreement.Youmustcheckift
8、hereisaformalismtothecontract.Indeedtheissueistoprovet
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