Q&A Performance Of Contracts Part One

Performance of contracts shall match the exact contractual obligations. Therefore, formulating robust and clear contracts is a must to decrease contractual disputes.

Parties to a contract must render exact and complete performances to be released from legal liabilities. Any unfulfilled legal obligations can be subject to civil and administrative penalties - therefore, for companies doing business in China, it is crucial to understand the legal basics of performing contractual obligations.

In this 2 part Q&A, we highlight what companies need to know about contractual performances in China.

Basic Principle

Q: What are the basic legal principles for the performance of contracts?