Russia

Subsection 4. TRANSACTIONS AND REPRESENTATION

Chapter 9. Transactions

I. Concept, Types, and Forms of Transactions

Article 153. Concept of Transaction

The actions of citizens and legal persons directed to the establishment, change, or termination of civil rights and duties shall be deemed to be transactions.

Article 154. Contracts and Unilateral Transactions

1. Transactions may be bilateral or multilateral (contracts), or unilateral.

2. A transaction for the conclusion of which in accordance with a law, other legal acts, or agreement of the parties the expression of the will of one party is necessary and sufficient shall be considered unilateral.

3. In order to conclude a contract, the expression of the concordant will of two parties (bilateral transaction), or three or more parties (multilateral transaction) shall be necessary.

Article 158. Form of Transactions see also Validity

1. Transactions shall be concluded orally or in writing (simple or notarial form).

2. A transaction which may be concluded orally shall be considered concluded also in the instance when the will to conclude the transaction is manifest from the behaviour of the person.

3. Silence shall be deemed to be an expression of will to conclude a transaction in the instances provided for by law or by agreement of the parties.

Article 434. The Form of the Contract see also Validity

1. The contract may be concluded in any form, stipulated for making the deals, unless the law stipulates a definite form for the given kind of contracts. If the parties have agreed to conclude the contract in a definite form, it shall be regarded as concluded after the agreed form has been rendered to it, even if the law does not require such form for the given kind of contracts.

2. The contract in written form shall be concluded by compiling one document, signed by the parties, and also by way of exchanging the documents by mail, telegraph, teletype, telephone, by the electronic or any other type of the means of communication, which makes it possible to establish for certain that the document comes from the party by the contract.

3. The written form of the contract shall be regarded as observed, if the written offer to conclude the contract has been accepted in conformity with the order, stipulated by Item 3, Article 438 of the present Code.

Article 452. The Procedure for the Amendment and the Cancellation of the Contract see also Validity

1. The agreement on the amendment or on the cancellation of the contract shall be legalized in the same form as the contract itself, unless otherwise following from the law, from the other legal acts, from the contract or from the customs of the business turnover.

2. The claim for the amendment or for the cancellation of the contract may be filed by the party with the court only after it has received the refusal from the other party in response to its proposal to amend or to cancel the contract, or in case of its non-receipt of any response within the term, indicated in the proposal or fixed by the law or by the contract, and in the absence thereof - within a 30-day term.