Contracts. Types and characteristics

Features and types of contracts in Anglosaxon Legal System

1. III. MAIN LEGAL TEXTS
3.1. Contracts

2. 2.1. Conditions to subscribe a contract
There is an offer by one party
(offeror) accepted by an offeree
Enforceable contract, parties
must agree on price + subject
matter
Enforceable agreement may be
manifested in express contract or
implied contract

3. Common clause types
A) Acceleration: cláusula de
amortización anticipada
B) Assignment: cesión / traspaso
C) Confidenciality:
confidencialidad
D) Consideration: prestación

4. E) Force Majeure: fuerza mayor
F) Liquidated Damages:
indemnización por daños y
perjuicios
G) Entire agreement:
H) Severability
I) Termination: cese, extinción
J) Payment of costs: pago de las
costas

5. Defences to contract formation
1- Illegality of the subject matter
2- fraud in the inducement
3- duress: coacción
4- lack of legal capacity

6. Contract remedies
Pecuniary compensation
Specific performance:
cumplimiento del contrato
Rescission of the contract:
extinción del contrato

7. Main types of contracts
A) Purchase-sale contract:
contrato de compra-venta
B) Lease or leasehold: contrato
de arrendamiento
C) Contract of employment:
contrato de trabajo

8. a) Purchase- sale contracts
Types: real property, materials
Must be legalised by deed
(escritura)
Can be terminated by performance
of contract, mutual consent,
novation or breach of contract

9. B) Lease or leasehold
Parties: owner of a real state (bien
immueble) or lessor and tenant
Covenants (pactos): parties to the
contract, term / length, description of real
property, rent, insurance, repairs and
maintenance
Types of tenancy(arrendamiento): a) for
a fixed term b) periodic c) tenancy at
will (inquilinato sin plazo fijo)

10. C) Contract of employment
Types: full time or part-time
Causes of the termination: unfair
dismissal (despido improcedente),
redundancy (despido por
regulación de plantilla)
Remedies applied by Industrial
Tribunals (unfair dismissal):
reinstatement, reengagement,
compensation