How does Chinese law define business contracts?

In China, business contracts are defined by the Contract Law of China, which defines the legal rules and regulations for individuals and businesses to enter into business agreements. The law sets out the basic conditions for the formation of a contract, the obligations and rights of the parties involved, and the consequences of breach of contract. The law also states that contracts must be in writing and should include all relevant details of the business relationship. It also requires that the parties involved have full capacity to sign the contract and that the agreement be entered into in good faith. The law also provides for the effects of a breach of contract and how to fix it. The law also sets out the rules regarding the interpretation of contracts and how to properly enforce them. It also states that parties must fulfill their promises in a timely manner and that the courts may award damages and other remedies in cases of breach of contract. The Chinese Contract Law also provides for the remedies available to the parties in case of breach of contract. These remedies include damages, specific performance, and other remedies such as injunctions or specific orders from the court. It also provides for the possibility of rescission of the contract in some cases. The Contract Law of China is the basis for all business contracts in China and is enforced by the court. It offers guidance to businesses in the creation and implementation of a contract and provides the necessary legal protection in case of a breach of contract.

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How does Chinese law define business contracts?

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