That is a contract, according to the Civil Code Article 1517 "contract exists when two or more persons agree to create, modify or extinguish an obligation," but what exactly does this mean? In simple words, through a contract agreement shows that there between two or more persons to accomplish an objective can be to make something, quitting or giving something. Exemplify each of the alternatives, " obligation to do: when hire a construction company to erect a house-obligation not to do: when it is agreed that a person may not erect a wall at a certain location;-obligation to: when to deliver a car to a person.
Then, through a contract change create and extinguish rights and obligations for each party depending on the type of contract concerned, for example:
If A sells to B a car for Q5, 000.00 through a contract of sale, it will create the following rights:
A: right to receive the Q5, 000.00 in exchange for ownership of the car, the right to require such payment if is done, the right to reserve the right to ownership of the car while the debt is fully paid
B: the right to receive the car, the right not to cancel the payment if the car is not on the terms agreed in the contract , right to require the car if the payment was made, the right to do what you want with the car from the time a contract is.
These are some of the effects arising under the contract, but there are forward contracts is not it, in these contracts, the payment is subject to several fertilizers to be made on the dates agreed by the parties.
But what we look for when signing a contract? Often these seem to Egyptian scrolls because they are lengthy and contain a lot of legal terms are sometimes confused even the most intelligent citizens, so here is a brief list of things to check before signing a document that forces you to something :
§ Check your data.
§ Check the details of the person with whom you contract.
§ Check that the thing or action is agreed in the contract is what you want u get.
§ If you have questions about the form or contract that you would like an agreement, get advice of a notary, they know what type of contract is the best you can achieve your goals.
§ Before the contract is to verify that things you buy have your paperwork in order eg if you buy a car, you can verify that this is not stolen or owned by another person who intends to sell different
§ not be afraid to ask questions concerns you may have.
§ never sign documents without reading them CAREFULLY.
§ NEVER sign blank sheets, NO MATTER WHAT YOU SAY DO NOT DO IT!.
§ not sign anything if the document exist in the blanks and tell you to fill the spaces after (this rule has an exception, when doing business with a bank or credit institution, eg when applying for a credit card. In addition, these contracts are often already reflected in a form with the logo of the entity with whom contracts).
§ If the contract authorized by a Notary Public, verifies their identity and credentials to avoid being fooled by someone saying that a notary public.
§ Check the signature of the person with whom you contract to be the signature on your ID.
not so small list but .... All is not having problems in the future. If I forget something, I will add in the future.
I hope you find benefit in this small post.
Greetings.
Legal Regulation: Articles 1320, 1323, 1326, 1390, 1401, 1402, 1517, 1518 and 1519 Civil Code, 29, 30, 31, Code of Notaries.
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