The Execution of Not-in-effect Contract
LI Yong-shan
Abstract
LI Yong-shan
Abstract
Different from invalid contract,not-in-effect contract is partly in effect before the maturing of stipulated or legal conditions.Therefore,a dual structure of not-in-effect contract is formed accordingly: parties concerned should fulfill the liabilities of contract preparation and then are bound by the contract after the maturation.Since the liabilities of preparation are based on contract in effect,any non-performance will be viewed as breach of the contract.
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Different from invalid contract,not-in-effect contract is partly in effect before the maturing of stipulated or legal conditions.Therefore,a dual structure of not-in-effect contract is formed accordingly: parties concerned should fulfill the liabilities of contract preparation and then are bound by the contract after the maturation.Since the liabilities of preparation are based on contract in effect,any non-performance will be viewed as breach of the contract.
Key concepts: Contract management, Exclusion clause, Business, Severability, Dual (grammatical number), Privity of contract, Frustration of purpose, Law and economics