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Chapter 16 The Conclusion of Sales Contracts 国际货物买卖合同的订立 Lesson 1 The procedure for the conclusion of sales contract The international business made between the Buyer and the Seller are mainly the conclusion of the contract and the fulfillment of the contract. The establishment of a contract includes the following four legal steps: inquiry, offer, counter offer and acceptance, in which the offer and the acceptance are indispensable and necessary. Definition of Contract A contract is an agreement reached by two or more than two parties concerned, in order to establish, modify or terminate the civil right and obligation of the parties. According to the definition given in Common Law, a contract is an accord of both parties, which can be explained in short as follows: “the contract is formed on the promise of the offer” “ the contract is formed upon the acceptance of the offer” “ the establishment time of a contract is also the time when the acceptance comes into effect” Offer发盘 An offer is a proposal of terms and conditions presented in a potential contract by one party, called the offeror, to anther party, called the offeree. An offer may be proposed by the seller or the buyer. The offer proposed by the buyer is referred to as bid. The necessary conditions for a valid offer in law 1. An offer must be addressed to one or more specific persons. 2. The contents of an offer must be sufficiently definite. 3. With the indication that the offer is binding upon the offerer. 4. An offer comes into effect only when it reaches the offeree. Validity time of an offer发盘的有效期 An offer is usually with a validity, the acceptance made by an offeree is effective merely within the period and the offeror is bound to the obligation to conclude the contract with the offeree upon the offer terms within the period. When the validity time is not specified in the offer, the offeree’s acceptance shall be made within a reasonable time. So-called “reasonable time” is depending o
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