Common Contracts
1 similar Promissory Agreement contracts
THE MAIN CIVIL CONTRACTSPromissory Agreement • January 13th, 2021
[…] preparatory, preliminary contract, or promissory agreement. The promissory agreement is a true contract, a meeting of the minds which obligates the parties to comply with the promise, an agreement by means of which the parties agree to enter into a future contract. There are doctrinal sectors that, following the German terminology, make the error of calling the promissory agreement a pre-contract. As a matter of fact, the pre-contract represents a stage prior to the contract, without any meeting of the minds which perfects a legal transaction, and this refers to mere preliminary negotiations or, which is the same, the stage of the generation of the agreement (supra).
