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Features and types of contracts in Anglosaxon Legal System
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III. MAIN LEGAL TEXTS
3.1. Contracts
2.1. Conditions to subscribe a contract
There is an offer by one party (offeror) accepted by an offeree
Enforceable contract, parties must agree on price + subject matter
Enforceable agreement may be manifested in express contract or implied contract
Common clause types
A) Acceleration: cláusula de amortización anticipada
B) Assignment: cesión / traspaso C) Confidenciality:
confidencialidad D) Consideration: prestación
E) Force Majeure: fuerza mayor F) Liquidated Damages:
indemnización por daños y perjuicios
G) Entire agreement: H) Severability I) Termination: cese, extinción J) Payment of costs: pago de las
costas
Defences to contract formation
1- Illegality of the subject matter 2- fraud in the inducement 3- duress: coacción 4- lack of legal capacity
Contract remedies
Pecuniary compensation Specific performance:
cumplimiento del contrato Rescission of the contract:
extinción del contrato
Main types of contracts
A) Purchase-sale contract: contrato de compra-venta
B) Lease or leasehold: contrato de arrendamiento
C) Contract of employment: contrato de trabajo
a) Purchase- sale contracts
Types: real property, materials Must be legalised by deed
(escritura) Can be terminated by performance
of contract, mutual consent, novation or breach of contract
B) Lease or leasehold
Parties: owner of a real state (bien immueble) or lessor and tenant
Covenants (pactos): parties to the contract, term / length, description of real property, rent, insurance, repairs and maintenance
Types of tenancy(arrendamiento): a) for a fixed term b) periodic c) tenancy at will (inquilinato sin plazo fijo)
C) Contract of employment
Types: full time or part-time Causes of the termination: unfair
dismissal (despido improcedente), redundancy (despido por regulación de plantilla)
Remedies applied by Industrial Tribunals (unfair dismissal): reinstatement, reengagement, compensation
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