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| Tekijä: | Zhu, Junhua Jiang, Yalan |
| Otsikko: | Legal document concerning the modification, rescission and termination of economic contracts involving foreign interests (original in Chinese) |
| Lehti: | Economic Management (c)
1995 : 4, p.58-59 |
| Asiasana: | ECONOMICS LAW |
| Kieli: | chi |
| Tiivistelmä: | According to the stipulation of Chapter 5 of Law on Economic Contracts Involving Foreign Interests, the modification of a contract can be made only after both parties agree through consultation to modify it and sign a written agreement. The original contract will remain effective until a new agreement is signed. The rescission of a contract is also called unilateral one. According to Article 29 which makes strict restriction to the condition of rescinding a contract, only when one of 5 cases occurs, for example, one party seriously breaks a contract or do not fulfil a contract due to exceeding the allowed postponed deadline, can a party to the contract have the right to notify the other one to rescind the contract. |
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