What is Business Contract?

Business contract in public circulation is the most common contract it through the civil law subjects sell or buy a mobile or real estate, food, household supplies, etc. It is an important and indispensable social significance, which is interested in the state.

Business contract is regulated by the Civil Code, 31-th chapter of the Constitution, and “Notary on the law, as well as” Property of state registration of rights on the law and other legal acts.

561 in accordance with Civil Code Article: “the seller of real estate contract commits the buyer to ownership of land, building or structure, housing or other real estate” The buyer is obliged to accept the property and pay for it: Real estate each deal is concluded in writing, signed by the parties to form a document through the real estate purchase and sale agreement is subject to notary and the rights deriving from the state registration.

Real estate contract subject are significant conditions and price.

According to 566 Civil Code, Article states: “The real estate sales contract must contain the data that enable us to determine the buyer’s contract expressly subject to the transfer of real property, including the land or other real estate property position of deciding the data in the contract that the absence of data In case of real estate subject to surrender on condition is considered to be uncoordinated, and the contract wasn’t made.

And 567 of the Article states: “The real estate sales contract must provide a price real estate sale contract the parties agreed in writing the price is not mentioned in the contract if the sale is considered not made.

According to the Notary law on Article 55: notary approved the transactions for which the law is mandatory notarial form one of the parties may request notary validate and other transactions, even if the law for this type of transaction does not require notarial form. From that stems from the legislature intended that, even in notarial transactions which do not require mandatory validation can be validated in order to reduce the possible subjects of future disputes between the probability of occurrence, besides, the transactions giving greater legal force than in written form the made ones, as well as thus increases the responsibility of the parties in their contractual relations.

Notary should require the parties to the transaction for the ratification of this law the necessary documents, including evidence that the property or the right to belong to the owner (mortgage or cast, or the use of trust management and filing, etc.) person.

According to the property rights registration of the law on Article 23, relating to property rights arising from transactions, property rights, right to use, pledge, mortgage, servitude, and other restrictions, mobile rights to the property, except vehicles of rights, as also, as prescribed by law, but the rights of the state register of territorial units, according to the present location of real estate, subject to (must be submitted to the state registration, notary transactions from the date of 30-day period arising from transactions demand for state registration of rights Failure to keep the results in the invalidity of such transaction shall be deemed null and void.

Avetik HARUTYUNYAN