How does Chinese law define business contracts?

Chinese law defines business contracts as agreements between two or more parties, where each party commits to perform a certain act or provide certain services in exchange for something of value. Business contracts have to include the names of all parties involved, a description of the services to be provided, time frames for delivery, and any other important details related to the contract. All parties must agree to the terms and conditions of the contract and it must be signed or otherwise agreed upon in writing. Additionally, it is important to note that in order to be legally binding, the contract must be drafted and performed in accordance with Chinese laws and regulations. For a business contract to be considered legally binding, it must contain specific elements such as legally binding contracts must include the proper parties, a description of the services to be provided, an agreement to perform in a certain manner, consideration, and an agreement of performance that is based on the principles of good faith and fair dealing. The language used in the contract must be clear and unambiguous and all parties must agree to the terms and conditions of the contract. Additionally, the performance of the contract must comply with Chinese laws and regulations. Finally, the contract must be signed or otherwise agreed upon in writing by all parties. In short, business contracts in China must have all the required elements, be drafted in accordance with Chinese law and regulations, and be legally binding. It is important to ensure that all parties understand and agree to the terms and conditions of the contract to ensure its legality.

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How does Chinese law define business contracts?

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