Chapter4InternationalContractLaw.ppt

INTERNATIONAL BUSINESS LAW 法律系 向玉兰 Chapter 4 International Contract Law Main Points: Formation of Contract Validity of Contracts Performance of contract Remedies for breach of contract I. What is contract? China: Contract is an agreement between natural persons, legal persons and other organizations with equal standing, for the purposes of establishing, altering or discharging a relationship of civil rights and obligations. USA: Contract is a promise or a set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty. P104 II. Formation of Contract (I) Offer P104 1. Definition An offer is a proposal by one person to another indicating an intention to enter into a contract under specified terms. That’s to say, an offer is a definite promise to be bound on specific terms. II. Formation of Contract 2. Requirements for a valid offer (要约具备的三个条件) Contractual intention(The offer must be addressed to one or more specific person and and indicates the intention of the offeror to be bound.). （art14） Definiteness(An offer must be sufficiently definite) P105 II. Formation of Contract (3) Communication of offer to offeree (An offer must be sufficiently communicated to the offeree). II. Formation of Contract 3. Termination of an offer An offer can be terminated by means of: Revocation by the offeror rejection(non-acceptance) counteroffer by an offeree, lapse of time, II. Formation of Contract Revocation of an offer Under Common law ,the offeror may revoke an offer at any time prior to acceptance, and revocations are effective only when they are actually communicated to or received by the offeree. But an offer cannot be revoked for up to 90 days if : (a) the offeror is a merchant ; (b) it has a period of validity; (c) the offer is in writing and signed By the offeror. , II. Formation of Contract (1)Revocation of offer Under CISG Chinese Law, an offer can