Distinction between pre-contracts and similar institutions Sample Clauses

Distinction between pre-contracts and similar institutions. In the legal literature authors often deal with differences between pre-contracts and framework contracts, option agreements, or agreements to be completed in the future.14 The option agreement under Czech law is interpreted as a right to unilaterally establish a contractual relationship (or to extend a former such relationship).15 This right very often has a ground in a former agreement between the parties (a contrac- tual option), but it can also be created unilaterally by one party (e.g., in the form of an irrevocable offer by which consent to the final contract is also expressed). The option contained in the contract regularly takes the form of a potestative suspensive condi- tion. Reverse sale and reverse purchase are both based on a similar principle.16 In contrast to a pre-contract, here the content of the envisaged obligation is completely and finally agreed to in advance by one of the parties (i.e., the party does not oblige himself or herself to grant another consent to any juridical act but instead accepts that such obligations become binding on himself or herself by the simple manifestation of the corresponding consent by the other party). The obliged party is thus not bound to conclude the contract in the future and thus to express his or her consent again, as this has been already expressed. The force of the contract or its conclusion shall depend only on the as yet unexpressed consent of the entitled counterparty. The contract (or the offer) may set time limits after the expiry of which the option lapses. Therefore, it is obvious that the option does not demand any deter- mination of the contract by court or replacement of the will of a reticent party. Nevertheless, there is a certain similarity to pre-contracts. There is a certain period between the time when the option is granted and when it is performed. As in the case of pre-contracts, circumstances may change significantly in the meantime. In Austria rules on the change of circumstances relevant to pre-contracts are applied with respect to options due to analogy.17 Such a solution could be discussed in the Czech Republic as well. As far as framework contracts are concerned, these regularly set out the rules for future contracts but do not oblige the parties to conclude them. However, they can contain offers or a pre-contract. The law distinguishes between pre-contracts and agreements to be completed in the future.18 Contrary to the pre-contract, the contract in the latter case is conclu...
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