The reality is that contracts can take multiple types and forms. On this occasion, and depending on their nature, we classify the following types of contracts most used countries and the need for contract lawyer such as contract lawyer new york for instance.
- Labor or employment contract
An employment contract is a type of private agreement that legally binds the employer to an employee and is used to define the employment relationship, as well as the functions and responsibilities of the employee. Whether physical or electronic contracts – most used to link natural or legal persons with companies are the same in all countries in the region :
a).- Indefinite or indefinite employment contract
In the indefinite term contract, the company does not establish a time limit for the agreement term.
b).-Fixed-term or fixed-term contract
The company only hires workers for a specific time.
c).- Temporary employment contract or work contract
The employee executes a specific and determined material or intellectual work from beginning to end.
- Private Or Civil Contract
A private civil contract or private label manufacturing agreement is a legal act of its own volition in which a right or obligation is transferred between the interested parties, for example, in the case of a rental contract.
Private or civil contracts are, in short, types of agreements related to the private life of people and are differentiated into the following subcategories:
a).- Bilateral and unilateral contracts
According to contract law, bilateral contracts involve promises made by both parties. On the other hand, unilateral contracts involve promises made by only one of the parties.
Among bilateral contracts, we can mention sales, lease, or employment contracts as examples.
b).- Onerous and free contracts
Onerous contracts are those agreements in which benefits and encumbrances are established for both parties; that is, the participants who obtain benefits will have to assume burdens and benefits, which is why it entails a price. The purchase and sale contract would be a clear example of an onerous contract.
c).- Real, solemn and consensual contract
The real contract is defined as that agreement for its perfection -for it to take effect- the delivery of the thing that constitutes its object is needed. For example, the bailment contract.
A solemn contract is an agreement subject to the fulfillment of certain formalities or a specific way of making it take effect.
Finally, consensual contracts are effective through the explicit will in the manifestation of the consent of the contracting parties. In other words, as with the sales contract, only consent is required to celebrate it.
e).- Single contract and successive contract
The single tract contract refers to the agreement that its execution and validation occur uniquely and immediately, without postponing it over time. An example of this type of agreement is the exchange or sale contract.
On the other hand, the execution of the successive tract contract takes place repeatedly over time; that is, it can be renewed or extended, as is the case of the lease/rental contract.
- Public or administrative contracts
In this type of contract, one party is the Public Administration or a state entity that exercises certain benefits from its interpretation, execution, and termination. Public or administrative contracts are executed as a guarantee of interests and for the socioeconomic well-being of citizens.
Among the most commonly used types of public or administrative agreements, the following stand out:
Works contracts.
Service contracts.
Supply contracts.
Public works concession agreement.
Collaborative contracts between the public sector and the private sector.
- Commercial or commercial contracts
A commercial or commercial contract is an agreement between natural or legal persons that defines and regulates commercial relationships in which the object is a commercial act, such as selling a specific good or service.
Commercial contracts are especially relevant for those companies that seek to negotiate with suppliers and attract new customers.
Some contracts classified as commercial or commercial are:
Sales or commercial contract.
Insurance contract.
Ground transportation contract.
Bills of exchange, letters of credit, promissory notes, and checks.
Maritime trade contract.
Contract of mercantile companies.
Factoring contract.
Loan contract.
Agency agreement.
Bank deposit contract.
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