North Cyprus Law | Sales Contracts

North Cyprus Law | Sales ContractsQu: What happens if you don’t comply with the payment schedule in your contract?

When a party to contract promises to do a certain thing at or before specified times, or certain things at or before specified times, and fails to do any such thing at or before the specified time, the contract, or so much of it as has not been performed, becomes voidable at the opinion of the promisee, if the intention of the parties was that time should be of the essence of the contract.

If it was not the intention of the parties that time should be of the essence of the contract, the contract does not become voidable by the failure to do such thing at or before the specified time; but the promisee is entitled to compensation from the promiser for any loss occasioned to him by such failure.”

As you read what I have and will be writing, you shall see some of the reasons why it is always best to take the advice of a qualified, decent, honest and reliable Advocate before and after you sign any contract.

Qu: Does a Sales Contract always have to be in writing?

The answer would be no but as you well know, for some formalities to be met, yes they do need to be in writing. Below I have written down the general rule regarding the subject.

All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not by law expressly declared to be void, and may, subject to the provisions of the contract Law, be made in writing, or by word of mouth, or partly in writing and partly by word of mouth, or may be implied from the conduct of the parties.

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