Common Contracts
1 similar Summary contracts
SUMMARYSummary • December 30th, 2021
The factoring agreement being an example of an empirical development of mutual obliga- tions does not lend itself to a cut-and-dry classification under Polish civil law, nor under a majority of foreign legal systems. The prevailing view in Polish law theory is that factoring should be regarded as an innominate agreement, an innominate agreement featuring elements of a nominate-innominate agreement, or just a mixed nominate-innominate agreement. Factoring is often thought of as a group of agreements (sale agreement, loan agreement), functionally connected but legally independent, which includes an assign- ment of claims along with other nominate and innominate agreements which regulate a host of other services the factor provides for the seller (e.g., service agreement). Lastly, factoring agreements are regarded as independent nominate agreements (e.g., sale, loan or service agreements).
