Main terms of the civil and commercial contracts

A contract is an agreement between natural persons, legal persons or other organizations with equal status, for the purpose of establishing, altering or terminating a relationship of civil rights and obligations. The terms of a contract generally include: (1) names of the parties and the domiciles thereof; (2) subject matter; (3) quantity; (4) quality; (5) price or remuneration; (6) time, place and method of performance; (7) liabilities for breach of contract; and (8) method of dispute resolution.