Special Types of Purchase Contracts

Special Types of Purchase Contracts

In this Article, an author will determine special types of Purchase Contracts. They are quite many.

There are relatively many provisions to be taken into account when concluding and performing contracts with specific reservations. They are neighbor contracts which have essentially led to the separation of specific types of purchase.

Back-up and return-over

With a reverse purchase, the buyer undertakes to sell his case back to the seller at his request or within the time limit they agree. It is rare in the home environment. People use it in the circulation of financial instruments, where they use the term “repo transaction”.

In the form of a reverse transfer, the buyer initially acquires ownership of the case. He remains connected to the seller, which may either require the return of the case, or a specific time-limit for the resale.

The right of return is not a condition on which the strength of the contract depends or as a right of withdrawal. It is a special right.

A reverse purchase is a right in which they agree to sell the case back on time.

Purchase with a check or view

By agreement of the Parties, the contract may contain a condition that the contract continues only if the buyer considers it useful to himself or herself after examining the case or examining it. This condition suspends, in addition to being wholly dependent on the arbitrariness of the notional entitled person. The contract, therefore, links the seller from the time of conclusion, but the buyer may either leave it in force or withdraw from it without giving any specific reason.

The buyer has an obligation to give a feedback. The term specified in the law is two months, but a different deadline may also be. They should give a reference as a subjective choice to accept (keep) a case or not, without particularly justifying it.

Full or partial payment for a case that they already transferred counts as consent, unless in doing so the buyer indicated that he still reserves the right of withdrawal until the specified or statutory deadline.

Payment purchase (credit purchase)

The seller agrees to transfer the case without immediately receiving the equivalent in cash. He allows the buyer to use for some time as a credit this amount, which he must give at the same time as receiving the case. So the main thing is to transfer ownership.

The seller has several remedies if the buyer is undisciplined. At first, if it is he agrees to pay in installments and the buyer gives two payment deadlines, the seller may recover late payments. Secondly, require the cancellation of the contract and the return of the sale of the property, together with the consideration for use since the transfer to the return, as well as damages.

The seller shall also have the same rights if the buyer damages, forfeits or slays the case.

Payment purchase can be made for both personal consumption and resale. If he purchases the case for personal consumption, the buyer has no right to seize or pledge the case before full payment.

Right of pre-emption

The right of pre-emption is an advantage (compared to other buyers) to buy a case if the owner sells it. The contract may establish this right. It may also exist on the basis of a law.

In accordance with the law, pre-emptive rights shall be for co-owners, co-heirs, in the cases specified, the local government, the State. This is due to efforts to preserve in the public interest State or local governments the purchase of sites that enable social interest functions to be performed more successfully, objects of cultural and historical importance, the development of special economic zones, nature protection.

A contract may give rise to pre-emption rights not only in a purchase contract but also in a rental, rental or another contract.

If the object of the pre-emption is immovable property, the corroboration shall carefully follow. The request for corroboration must come with a statement regarding the consent of third parties when the law requires it.

* if, while ignoring the right of pre-emption, the immovable property is nevertheless sold to another person, a claim for a relationship or a claim for the absence of a transaction may be brought against the new acquirer. They can direct claims against an acquirer who has an evil faith or if the transaction is in contradiction with the entry in the corroboration. If the acquirer is of good faith, the infringed right of pre-emption may apply only to the seller, claiming damages.

In practice, there are a number of illegal or at least questionable attempts to circumvent the right of pre-emption. The most popular way to circumvent municipalities’ pre-emptive rights is to sell property in presumed parts.

Auction sale

An auction is a procedure that aims to attract as many buyers as possible. Auction seeks to obtain the best purchase price for the seller in the course of their competition.

The sale at auction is a proposal for the conclusion of a purchase agreement which promises to give the highest price for an openly sold case. This proposal is not an offshoot of the purchase. It contains a purchase item but no price.

Public procurement

Public Procurement Act governs Public procurement. The Law shall apply to State and local government institutions. The Law also applies to local governments, other legal persons of public law or their institutions. It also applies to legal persons or persons of private law which are subordinate to the specified persons.

Distance purchase

A distance contract means an agreement. This agreement is between a consumer and a vendor or service provider. It is on the basis of a tender from a sales or service provider with a standard letter, a catalog, or publicity. The contract comes with an order coupon, telephone, Internet, electronic mail, television, or radio.

It is a situation where they conclude contract at a distance when the parties do not meet personally.  The buyer and the seller are not in direct contact with regard to the crop and acceptance. An agreement concludes between non-existent persons when the acceptance has reached the letterbox of the provider. It is the so-called “mailbox principle”.

The distance contract stands out with the need for special consumer protection. This involves allowing the buyer to return the goods if it does not meet expectations. Consumer Protection Law regulate these issues.

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