Types of Agreements Often Used in Business Practices
In the business world, you must be able to distinguish between different types of agreements for business transactions. Why is that? This is because different legal principles apply to each type of transaction.
The rights and obligations of the parties will be determined by the nature of their contract and the legal rules governing the particular type of agreement.
In addition, agreements in business are more practical than the general rules outlined in the law. The types of agreements in business have their own unique character and concept.
The types of contracts that are often used in business practice include the following:
Contracts Related to the Goods Supply Process
These types of agreements in Indonesia relate to the process of supplying goods in business, both in terms of selling and buying goods.
1. Sale and Purchase Agreement of Goods
Contracts for buying and selling goods are the most common form of business transactions. Every time you buy goods, whether from a supermarket, market stall, doorstep seller, by mail order or using the Internet, you have signed a contract for the sale of goods.
This sale and purchase contract is regulated in the Civil Code, which is specifically contained in article 1457. In that article the sale and purchase is interpreted as an agreement in which one party binds himself to surrender the object and the other party binds himself to submit an amount of money according to the agreed price. .
Understanding this definition in detail will help you distinguish … Read More