Civil law Transactions Forms and types of transactions

Civil law. Transactions. Forms and types of transactions. 1. concept, sources and principles of civil law.

Civil law - is the branch of law which represents a set of rules regulating both commodity - monetary and other property relations based on the equality of participants in the property relations, and also personal non-property relations. Participants regulated by civil law relations are citizens, legal entities, state and administrative - territorial units.

The main source of civil law is the Constitution of the Republic of Kazakhstan and the Civil code of the Republic of Kazakhstan which consists of the General part from December 27, 1994 and the Special part from July 1, 1999.

The civil code consists of 1124 articles grouped in 62 heads. The general part contains the following sections: general provisions; property right and other property rights; liability law. The special part contains: separate types of obligations; intellectual property right; hereditary law; international private law.

Civil legislation. • The civil legislation is based on recognition of equality of participants of the relations regulated by it, inviolability of a property, freedom of agreement, inadmissibility of any intervention in private affairs, necessity of free realization of the civil rights, ensuring restoration of violated rights, their judicial protection.

Legal entities. • The legal entity is the organization which has an isolated property and fulfills its obligations with this property, can get and carry out on its own behalf the property and personal non-property rights and duties, to be the plaintiff and the respondent in a court. The legal entity should have an independent balance/account and a seal with its name.

According to types legal entities are divided into commercial and non-commercial organizations. Commercial ones pursue income earning as a main objective of their activity and distribute the received net profit among participants. Non-commercial entities have no income deriving as a main objective of the activity and don't distribute the received net profit among participants.

4. Transactions • The actions of citizens directed on establishment, change or termination of the civil rights are considered as transactions.

Transactions can be classified according to the various bases. • Depending on number of the parties participating in the transaction: • а) one-sided transaction which requires the will of one party (for example, will drawing up); • б) two - or multilateral transactions which demand a consent of two or more persons. Such transactions are called agreements.

2. On the moment for which transaction emergence is dated: а) real, they are considered done in case of thing transference by one of participants (for example, donation, storage). b) agreement- all transactions, for which the agreement on transaction is enough(purchase and sale)

3. On validity period: а) with no fixed term (indefinite) - where neither the moment of the introduction in action nor the termination moment is defined. b) the urgent. c) the conditional - where emergence of the rights and duties is dated for event concerning which, it is not known it will come or not.

There also paid and gratuitous transactions. The law defines that transactions can be made in an oral and written form. The legislation provides also obligatory notary certificate of some types of transactions.

The transaction is valid if it led to a legal result to which its parties aspired. To recognize the transaction valid, compliance to the following conditions is necessary: 1) it should be legal. The transaction which does not correspond to requirements of the legislation, to bases of a law and order, moral is void;

2) it should be made by capable persons; 3) the will expressed in the transaction, should correspond to a real will of a person who has made the transaction; 4) the transaction form should be observed.