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Mutual Concessions - Specific Element Of The Compromise/Transaction Contract

Author

Listed:
  • Georgeta-Bianca Spîrchez

    (Faculty of Law and Administrative Sciences, University of Craiova, Romania)

Abstract

Given the usefulness and practical importance of the compromise contract conclusion and of the amicably dispute resolution, within the business world, we aim to analyze, in what follows, the concrete means by which these kind of settlement are achieved. Two questions become legitimate in the context of concerns about mutual concessions which the parties make in a compromise contract. These questions are the following: "What are the mutual concessions? Do mutual concessions mean equivalent concessions?" and "How mutual concessions are required to complete a valid settlement? Is the requirement of mutual concessions grounded?"

Suggested Citation

  • Georgeta-Bianca Spîrchez, 2012. "Mutual Concessions - Specific Element Of The Compromise/Transaction Contract," Perspectives of Law and Public Administration, Societatea de Stiinte Juridice si Administrative (Society of Juridical and Administrative Sciences), vol. 1(1), pages 115-118, December.
    • Handle: RePEc:sja:journl:v:1:y:2012:i:1:p:115-118
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    File URL: http://www.businesslawconference.ro/revista/articole/an1nr1/13%20Tarita%20(Spirchez)%20G.B.%20Eng.pdf
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    More about this item

    Keywords

    compromise (contract); mutual concessions; waiving the right; waiving the claim;
    All these keywords.

    JEL classification:

    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law

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