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
Formation occurs when an offer is accepted under proper conditions. The parties must have legal capacity, and
Performance and breach: Contracts impose duties of performance. A breach occurs when a party fails to fulfil
Types and examples: Contracts can be bilateral or unilateral, written or oral, express or implied, fixed-term
Significance: Shartnoma provides predictability by defining rights and obligations and establishing dispute-resolution mechanisms, such as courts