Contracts
What do the Contracts Consist of?
Contracts are legal agreements that govern a wide variety of transactions and relationships in the business and personal world. These documents are fundamental pillars in the legal arena and play a crucial role in protecting the rights and interests of all parties involved.
The contract is an agreement of wills between two or more parties to create, regulate or extinguish a patrimonial legal relationship. The elements that make it up are:
Consent: free meeting of wills directed to a common purpose. There must be an offer and acceptance of the thing and the cause that are to constitute the contract.
Object: it must be a good or service that constitutes a possible, lawful and determined or determinable performance.
Cause: immediate purpose pursued through the contract. It must be real, lawful and moral.
In our legal system, the general regime of contracts is found in articles 1,254 to 1,314 of the Civil Code, although there are special rules for specific types of contracts.
Types of Contracts
Contracts are fundamental legal agreements that govern a multitude of transactions and relationships in society. There are numerous kinds of contracts, each designed to address specific needs and establish clear rules for the parties involved. Some of the most common types of contracts are explored below:
Contracts of Sale
These contracts govern the transfer of goods or property from a seller to a buyer in exchange for consideration. Purchase and sale contracts are typical in real estate transactions and purchases of tangible goods.
Lease Agreements
These contracts establish the terms and conditions under which one party (the lessor) agrees to allow another party (the lessee) to use a property or asset for a specified period of time in exchange for rent.
Labor Contracts
These contracts regulate the relationship between employers and employees. They establish the terms of employment, including salary, hours of work, duties and responsibilities.
Service Contracts
These contracts are used when one party agrees to provide services to another. They may include consulting agreements, professional service agreements and freelance contracts.
Loan Contracts
These contracts document the loan of money or goods between parties. They establish the terms of payment, interest rates (in the case of financial loans) and terms.
Franchise Agreements
These agreements allow one party (the franchisor) to grant another (the franchisee) the right to operate a business using its trademark and business model in exchange for royalties and compliance with certain guidelines.
Construction Contracts
In the construction field, these contracts are used to agree on the construction of buildings, infrastructure or other facilities. They establish payment terms, deadlines and project specifications.
Distribution Contracts
These contracts are used in commercial agreements in which one party (the distributor) agrees to distribute products or services of another party (the manufacturer or supplier) in a certain geographic area or market.
License Agreements
These agreements allow one party (the licensor) to grant another (the licensee) the right to use intellectual property, such as patents, trademarks or copyrights, in exchange for royalties or fees.
Insurance Contracts
These contracts set out the terms and conditions of an insurance agreement between an insurer and an insured. They specify what risks are covered and the obligations of both parties.
These are just a few of the many types of contracts that exist. Each has its own set of rules and legal requirements to ensure that the parties are protected and that their rights and interests are respected in the course of their business transactions and relationships.
According to their cause or object, contracts are classified as follows:
Unilateral: when only one of the parties is obligated to the other.
Bilateral or synallagmatic: when the parties are reciprocally obligated to each other.
Onerous: when each party intends to obtain a benefit in exchange for what it gives.
Gratuitous: when only one of the parties pursues the benefit without consideration.
Commutative: when the benefits are considered equivalent to each other.
Random: when the equivalence of the benefits depends on an uncertain event.
Typical or nominative: they are those that respond to contractual types that the law has specially regulated by giving them their own denomination (sale and purchase, lease, mandate, etc.).
Atypical or unnamed: they do not correspond to any of the contractual types regulated by law.
Phases of contracts
Three fundamental moments can be distinguished:
Generation of the contract: contact between the parties, offer and acceptance. The contract is perfected.
Execution or performance: each party carries out the performance to which it is obliged.
Effects: the obligations assumed, the rights to demand their performance and the actions to claim for breach arise.
Lawyers in los Cabos
Our contract legal services provide expert advice on drafting, reviewing and enforcing sound legal agreements.
We ensure that your contracts are clear, enforceable and protect your interests. Whether it is a purchase, lease, service or any other type of contract, we work to ensure that your rights are protected and obligations are fair.
In addition, in the event of contractual disputes, we provide strong legal representation to resolve disputes efficiently and fairly. Rely on our contract attorneys to provide you with security and peace of mind in your business and personal transactions.
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