Contracts, Negotiations and Enforcement in the Russian Federation: Overview | Daria Ilyina, Practical Law Global Guide 2016/17
Daria Ilyina, Senior Associate, on contracts, negotiations and enforcement in the Russian Federation:
FORMATION OF CONTRACTS
- Authority and capacity
- What are the authority/capacity rules for entering contracts, for different commercial entities?
- Formal legal requirements
- What are the essential requirements to create a legally enforceable contract?
- What are the main forms of contract?
- How are preliminary agreements used in your jurisdiction?
- Can negotiations become legally binding in any circumstances? What are the principles and rules (if any) on pre-contractual liability and good faith in negotiations?
- Formalities for execution
- When are written contracts required and for which assets/interests?
- Are there different formalities for different types of contractual document?
- What are the formalities for the execution of documents by companies, foreing companies and individuals?
- What is the status of electronic and faxed signatures in your jurisdiction?
- Deeds
- When are deeds required in relation to contracts?
- What are the legal formalities for a deed?
- What are the legal requirements for the execution of deeds?
- Notarisation
- Is notarisation required for contracts in your jurisdiction?
- What are the legalisation requirements in your jurisdiction and how is it carried out?
- Powers of attorneys
- What are the main types of powers of attorney in your jurisdiction?
- What are the main transactions when powers of attorney are used?
- What are the key provisions in a power of attorney?
- What are the formalities for the execution of a power of attorney?
- Is virtual closing used in your jurisdiction?
- How are legal opinions obtained and used in your jurisdiction?
- What are the key issues in the conduct of completion meetings?
- Other
- Is virtual closing used in your jurisdiction?
- How are legal opinions obtained and used in your jurisdiction?
- What are the key issues in the conduct of comletion meetings?
CONTENT OF CONTRACTS
- What is the legal status of contractual terms in your jurisdiction?
- Are warranties recognised in your jurisdiction?
VARIATION AND ASSINGMENT
- What are the main ways to transfer contractual rights?
- What are the rules relating to waiver of contractual rights?
ENFORCEMENT
- Liability and remedies
- What are the rules relating to invalidity, misrepresentation and mistake relating to contracts?
- What are the main performance and discharge rules relating to contracts?
- What are the key rules on privity of contract and third party rights?
- What are the main rules relating to contractual liability?
- What are the main contractual remedies?
- What are the main differences between indemnity and damages? Are penalty clauses subject to any limitation?
ENFORCEMENT AND CROSS-BORDER ISSUES
- Choice of law
- Is a foreing choise of law in a contract upheld by the local courts?
- Are any mandatory terms implied by statute?
- Jurisdiction
- Is a choice of jurisdiction in a contract upheld by the local courts?
- Enforcement of foreign judgments
- When are foreign judgments recognised in your jurisdiction?
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© This article was first published in the Contracts, Negotiation and Enforcement Global Guide 2016/17 and is reproduced with the permission of the publisher, Thomson Reuters. The law is stated as at 1 February 2017.