vastikkeilla

Vastikkeilla is a Finnish term that broadly refers to the concept of consideration in contracts. It is an essential element for a contract to be legally binding in Finnish law. Essentially, vastikkeilla represents the mutual exchange of value between parties entering into an agreement. This means that each party must give something of value or undertake an obligation in return for what they receive from the other party.

The nature of vastikkeilla can vary. It can be a payment of money, the provision of goods or services, the performance of a specific action, or even the forbearance from doing something one has a legal right to do. For instance, in a sales contract, the buyer's payment of the purchase price is the consideration for the seller's transfer of ownership of the goods, and vice versa. Similarly, in an employment contract, the employee's labor is the consideration for the employer's wages.

Without adequate vastikkeilla, an agreement may be deemed void or unenforceable. The value exchanged does not necessarily have to be equal in the eyes of the parties, as Finnish contract law generally respects the parties' freedom to contract. However, a complete absence of consideration or a clearly illusory promise can render a contract invalid. The concept of vastikkeilla ensures that agreements are not gratuitous promises but are based on a bargained-for exchange between the parties.