BIZCHINA / Company laws
Contract Law of the People's Republic of China
Updated: 2006-04-17 10:00
(Adopted at the Second Session of the Ninth National People's Congress on
March 15, 1999)
Chapter 1 General Provisions
Article 1 This Law is formulated with a view to protecting the lawful
rights and interests of the parties to contracts, maintaining the social
economic order and promoting the progress of the socialist modernization
drive.
Article 2 A contract in this Law refers to an agreement establishing,
modifying and terminating the civil rights and obligations between
subjects of equal footing, that is, between natural persons, legal
persons or other organizations. Agreements involving personal status
relationship such as on matrimony, adoption, guardianship, etc. Shall
apply the provisions of other Laws.
Article 3 The parties to contract shall have equal legal status. No party
may impose its will on the other party.
Article 4 The parties shall have the rights to be voluntary to enter into
a contract in accordance with the law. No unit or individual may
illegally interfere.
Article 5 The parties shall abide by the principle of fairness in
defining the rights and obligations of each party.
Article 6 The parties must act in accordance with the principle of good
faith, no matter in exercising rights or in performing obligations.
Article 7 In concluding and performing a contract, the parties shall
abide by the laws and administrative regulations, observe social ethics.
Neither party may disrupt the social-economic order or damage the public
interests.
Article 8 As soon as a contract is established in accordance with the
law, it shall be legally binding on the parties. The parties shall
perform their respective obligations in accordance with the terms of the
contract. Neither party may unilaterally modify or rescind the contract.
The contract established according to law shall be under the protection
of law.
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