Acceptance

• Acceptance - response of an offeree (person to whom an offer addressed the offer) about accepting an offer.

• Acceptance must be full and unconditional (what happens if its is conditional?)

• Silence is not acceptance

• Silence shall not be recognized as acceptance unless otherwise stems from a legislative act, tradition of business turnover or previous business relations of the parties.

Revoking acceptance

• Where a notification of the revocation of acceptance is received by the person who sent offer earlier or simultaneously with the acceptance the acceptance shall be deemed unreceived.

•

Grounds of invalidity

• Form

• Content

• Parties

12-13 лекции

Grounds of invalidity

• Form

• Content

• Parties

• Freedom of expression of will

Defect of form

• Written form

• Notary form

Defect of content

• Unfair competition.

• Agreement between the two parties which significant provisions contradict to the imperative provisions of the legislation.

• Committed by a legal entity and contradicts with its aims.

Flaw in the content

• A transaction, the contents of which do not comply with the requirements of legislation, and which is entered into for a purpose which is deliberately opposite to the fundamentals of the law and order or morals

• A person who deliberately concluded a transaction which violates the requirements of legislation, the charter of a legal entity shall not have the right to claim the recognition of the transaction as invalid, provided such a claim is caused by financial interest or the intention to evade responsibility.

Can shareholder claim invalidity of a transaction?

• A transaction performed by a legal entity in contradiction to the objects of the activity expressly restricted by this Code, or other legislative acts, or foundation documents, or in excess of corporate authorities, may be recognized as invalid pursuant to a court action of the owner of the property of a such legal entity, provided it is proved that the other party to a given transaction knew, or deliberately must have known about such violations.

Defect of party

– Committed by a person under 14

– Committed by a person of 14-18 without parent’s consent

– Committed by deeds incapable person with the mental disease

– Committed by capable, but who could not realize what he does

– Without license

Flaw in the parties

• What happens if transaction was concluded a week before such person was restricted in his/her active (deed) capacity, or was recognized in capable?