However, the effects of contracts between parties may vary depending on the jurisdiction where the transaction is executed, the code under which they are governed, and even who executes them.
Importance of contracts
Whether digital or physical contracts, they all have one thing in common: they are essential tools for usa phone number database establishing commercial and legal relationships.
In addition to offering protection and security for the parties involved, they provide mechanisms for resolving disputes and, to the extent possible, prevent them from arising.
Some of the most relevant factors that confirm its importance are the following:
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Enforcement of rights: Both parties have the right to demand compliance with the provisions of the contract and to advocate through legal means to achieve this.
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Intellectual Property Protection : These set out the terms and conditions for the use and exploitation of intellectual property, such as patents, trademarks and copyrights. In doing so, they help prevent infringement and unauthorized use.
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Compliance with regulations and standards : Whether electronic or traditional contracts, the provisions expressed therein are usually anchored to compliance with the corresponding regulations and standards.
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Fair and equitable provisions : Most of the time both parties will make fair provisions,
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where neither has to make an excessive effort or suffer unequal consequences.
What are the effects of contracts?
The general effects of contracts are understood as the consequences underlying their creation .
Contrary to what one might think, it is not only about the consequences related to their non-compliance,
but also about the effects that they bring with them immediately after their creation.
The above is independent of the type of document or the purpose for which it is drawn up. That is. The effects are equally applicable to bilateral or unilateral contracts,
What are the effects of contracts between parties?
Because the effects of contracts between the parties are not directly
stipulated in any regulation or the focus is on practical dialogue rule of the Federal Civil Code of Mexico , these vary according to the author who proposes them.
Below, we will show you those effects on which most authors agree:
1. Mandatory
The principle of binding force refers to the obligations that the parties to
a contract acquire rich data once it is drawn up. That is, what is expressed in it must be complied with in an obligatory and not optional manner.
The Federal Civil Code of Mexico mentions, on several occasions, obligation as an intrinsic element in contracts.