ComparisonofContractLawBetweenCommonLawand.docVIP

Comparison of Contract Law Between Common Law and Chinese Law Contract are part of everyone’s every day life. For example, when a person leases an apartment, buys a home or makes a charge purchase, a contract is involved. So, what is contract law In the common law jurisdictions, one of the simplest definitions for a contract is a “promise enforceable by law”. That is to say in common law, a contract is a promise, or set of promises, for breach of whic the law gives a remedy, or the performance of which the law in some way recognize as a duty. The promise may be to do something or to refrain from doing something. The making of a contract requires the mutual assent agreement of two or more persons, one of them normally making an offer and theother accepting it. If one of the parties persons fails to keep his or her promise, the other is entitled to legal recourse against that person. There is another explanation of the contract law in the common law world is focus on the agreement, which points out that a contract is an agreement between two or more persons enforceable by law. Both parties to contract are committed to something in the future. In Chinese contract law system, on the other hand, view contract law from a different perspective. Chinese contract law adopts the mode of Continental civil law system, in which the two essential elements of a contract are the parties’ intent and the expression of such intent by the parties. The traditional civil law approaches the contract law from the perspective of the law of obligations. When it comes to the Chinse contract law, the most known term equvalent to contract in Chinese tradition is Qi Yue commonly translated as “agreement” . The term “contract” He Tong actually appeared in ancient China 2000 years ago, but was soon replaced by the term Qi Yue, and therefore, contract itself was not a Qi Yue rather it was used as a mark or symbol evidencing the existence of the Qi Yue between parties. In this sense, “Contract” w