Which agreements are legally binding

Agreement ought to be kept'*. This saying forms one of the foundation pf international law. Many civil law systems hold that if an agreement is

serickus, definite and meant to be legally binding it is legally enforceable, Сотгдоп law systems, on the other hand, generally require something more. Theirpoint of view is derived* from the model of business dealing. Bargains, in whijch each party stands to gain* something from the agreement, can be enforced, just because each party stands to gain from them. And an agreement can be enforced by a party who stands to lose if it isn't enforced, because it has relied on it. But a promise to do someone a favour or to make a gift, however seriously meant, cannot be enforced, unless the promise is made by a written deed, signed and witnessed.

All legal systems, both civil and common law, are uneasy about enforcing promises of gifts. One device* that some civil law systems adopt is to insist that a promise of a gift should be in writing or even that it should be made in front of a notary (an official who specializes in legal documents). This is to make sure that the giver has really thought about the consequences of making the gift. In fact in France, outside-business deals, no agreement can be enforced as a contract unless there is some written evidence of its making.

Written evidence is certainly not a cast-iron test* or a commitment* to being legally bound, because we often make promises in private letters that we do not mean to bind us in law. But to put a promise or agreement in writing is some evidence of serious commitment.

Writing has other advantages. It provides proof of what was agreed and helps to avoid disputes about whether there has really been an agreement. International treaties are in practice always made in writing and signed by the parties.

Notes

agreements ought to be kept — договоры должны выполняться be derived from — проистекать, происходить gain — приобретать, выигрывать device — инструмент

cast-iron test — зд. надежное прочное свидетельство (доказательство) commitment — клятва, обещание

CONTRACTS (U.K.) (A)

England is a common law jurisdiction, and the legal principles applicable to contracts with limited exception are derived from* common laws. The term "common law" refers to the decision of judges made in particular cases over the centuries which create binding precedents*; consequently there is no code or statute which sets out all the principles relating to contract law.

Perhaps for this reason and in contrast to a number of other legal systems,
English law is not paternalistic* in its character and gives individuals and
companies the maximum freedom of choice so that they can conclude
commercial agreement on whatever terms they wish, subject only to* very limited
exceptions. I

This means that should any dispute arise between the parties I to an agreement, the English courts will seek to apply the intention of those parties as evidenced by the provisions contained in that agreement, and it is not open to the parties to claim that supervening* or unforeseeable events justify their release from the obligations they have undertaken in the agreement. There is no protection against "force majeure"* or "commercial impracticability"*, other than the limited doctrine of frustration*.

Furthermore, an English court will not seek to impose its own notions of "fairness" or "reasonableness" on the terms of the agreement, nor will it restrict a party who has performed, or wishes to perform, its side of the agreement in good faith from enforcing its clear contractual rights on the grounds that this would in some way be "unjust". The court has a right to impose a test of reasonableness on unfair contract terms (such as exemption clauses*) only in limited circumstances, such as consumer contracts on standard term and conditions.

Fbreemple, in a share purchase agreement*, the vendor* of the shares will not later be released from liability* for a breach of a warranty* contained in that agreement on the grounds that the particular matter giving rise to such liability could not have been discovered by the vendor, unless the agreement specifically provides for this.

Therefore, parties to an English law agreement can be certain as to precisely what rights and obligations each has secured and undertaken.

Notes

are derived from — проистекают, происходят