Shartnoma

Shartnoma, in Uzbek law, is a legally binding agreement between two or more parties that creates rights and obligations. It governs voluntary exchanges, from commercial transactions to personal arrangements, and can be in writing, oral, or implied by conduct, depending on the type and jurisdiction.

Core elements include an offer, an acceptance, lawful purpose, capacity of the parties, and the intention to create legal relations. In civil law systems, consideration is not always required; mutual assent and the economic purpose of the contract are often decisive. Some contracts also require a specific form, such as a written instrument or notarization.

Formation occurs when an offer is accepted under proper conditions. The parties must have legal capacity, and the subject matter must be lawful and possible to perform.

Performance and breach: Contracts impose duties of performance. A breach occurs when a party fails to fulfil promised obligations or performs defectively. Remedies include damages, specific performance, contract termination, restitution, and, in some cases, injunctions or liability limits.

Types and examples: Contracts can be bilateral or unilateral, written or oral, express or implied, fixed-term or indefinite, and may be valid, void, voidable, or illegal. Common examples include sales contracts, employment agreements, leases, and service contracts. International contracts may be governed by conventions such as the CISG, while national laws regulate validity and enforcement.

Significance: Shartnoma provides predictability by defining rights and obligations and establishing dispute-resolution mechanisms, such as courts or arbitration.