The parties to the contract have equal legal status, and neither party may impose its will on the other.
The parties shall, pursuant to law, have the right to enter into a contract on their own free will, and no unit or person may unlawfully interfere.
The parties shall observe the principle of equity in defining each other's rights and obligations.
The parties shall observe the principle of good faith in exercising their rights and fulfilling their obligations.
The parties shall, in making and fulfilling the contract, abide by laws and administrative regulations and respect social ethics, and may not disrupt the socio-economic order nor impair social and public interests.
A legally executed contract has legal binding force on the parties. The parties shall fulfill their obligations as contracted, and may not arbitrarily modify or terminate the contract. A legally executed contract is protected by law.
Article 39 see also Mandatory Obligations
If standard clauses are used in making a contract, the party that provides the standard clauses shall determine the rights and obligations between the parties in accordance with the principle of fairness, and shall call in a reasonable manner the other party's attention to the exemptible and restrictive clauses regarding its liability, and give explanations of such clauses at the request of the other party.
"Standard clauses" means the clauses that are formulated in anticipation by a party for the purpose of repeated usage and that are not a result of consultation with the other party in the making of the contract.
Article 42 see also Mandatory Obligations
In the making of a contract, the party that falls under any of the following circumstances, causing thus loss to the other party, shall hold the liability for the loss.
- engaging in consultation with malicious intention in name of making a contract;
- concealing intentionally key facts related to the making of the contract or
providing false information; or
- taking any other act contrary to the principle of good faith.
Article 60 see also Mandatory Obligations
The parties shall fulfill fully their respective obligations as contracted.
The parties shall observe the principle of good faith and fulfill the obligations of notification, assistance and confidentiality in accordance with the nature and aims of the contract and customary trade practices.
After the termination of rights and obligations under a contract, the parties shall perform the duties of notification, assistance and confidentiality in light of the principle of good faith and in accordance with trade practices.
Article 125 see also Agreed Obligations
In the event that the parties dispute about the understanding of a clause of the contract, the actual meaning of the clause shall be inferred and determined on the basis of the words and sentences used in the contract, related clauses of the contract, aim of the contract, trade practices and the principle of good faith.