TheContractLawofthePeople’sRepublicofChinawas
enactedbytheNationalPeople’sCongressofthePeople’s
RepublicofChinaonMarch15,1999,andcameintoeffecton
October1,1999.Thecontractlawregulatestheconclusion,
performance,andterminationofcontractsinChina,andit
providesalegalframeworkforcontractualtransactionsin
variousfields.
GeneralProvisions
Article1-Purpose
Thepurposeofthislawistoregulatecivilactivitieswith
contractualnature,protectthelegitimaterightsandinterestsof
thepartiestoacontract,maintainsocialandeconomicorder,
andpromotesocialistmodernization.
Article2-Definition
Acontractisanagreementbetweennaturalpersons,legal
persons,orotherorganizationsthathaveequallegalstatus,
whichcreates,alters,orextinguishescivilrightsandobligations.
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