rela on.
Chapter II Conclusion of Contracts
Ar cle 469 The par es may conclude a contract in wri ng, orally, or in other forms.
A wri ng refers to any form that renders the content contained therein capable of being represented in a
tangible form, such as a wri en agreement, le er, telegram, telex, or facsimile.
A data message in any form, such as electronic data interchange and e-mails, that renders the content
contained therein capable of being represented in a tangible form and accessible for reference and use at
any me shall be deemed as a wri ng.
Ar cle 470 The content of a contract shall be agreed by the par es and generally includes the following
clauses:
(1) name or designa on and domicile of each party;
(2) objects;
(3) quan ty;
(4) quality;
(5) price or remunera on;
(6) me period, place, and manner of performance;
(7) default liability; and
(8) dispute resolu on.
The par es may conclude a contract with reference to the various types of model contracts.
Ar cle 471 The par es may conclude a contract by making an o er and acceptance or other means.
Ar cle 472 An o er is an expression of intent to conclude a contract with another person, and the expression
of intent shall conform to the following condi ons:
the content shall be speci c and de nite; and
it is indicated therein that the o eror is to be bound by his expression of intent upon acceptance thereof by
an o eree.
Ar cle 473 An invita on to o er is a manifesta on that a person expects another person to make an o er to
him. Auc on announcements, bidding announcements, stock prospectuses, bond prospectuses, fund
prospectuses, commercial adver sements and promo ons, and mailed price catalogs, and the like, are
invita ons to o er.
A commercial adver sement and promo on shall cons tute an o er if its content conforms to the condi ons
for an o er.
Ar cle 474 The me when an o er becomes e ec ve shall be governed by the provisions of Ar cle 137 of
this Code.
Ar cle 475 An o er may be withdrawn. The withdrawal of an o er shall be governed by the provisions of
Ar cle 141 of this Code.
Ar cle 476 An o er may be revoked, unless under any of the following circumstances:
(1) the o eror has explicitly indicated that the o er is irrevocable by specifying a me limit for acceptance or
in any other manner; or
(2) the o eree has reasons to believe that the o er is irrevocable and the o eree has made reasonable
prepara ons to perform the contract.
Ar cle 477 Where an expression of intent to revoke an o er is made in a real- me communica on, the
content of such expression of intent shall be known to the o eree before the o eree makes an acceptance;
where an expression of intent to revoke an o er is not made in a real- me communica on, it shall reach the
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