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What are the revocable clauses

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What are the revocable clauses


        

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  • 2024-06-05 22:01:41

    The so-called revocable contract refers to a contract that lacks certain effective elements, and its validity depends on whether the party with the right to revoke exercises the right to revoke. A revocable contract is a relatively effective contract. It is effective for both parties before the party with the right to revoke exercises the right to revoke it. It is a relatively invalid contract, but it is different from the absolutely invalid contract.

    [Legal Basis]

    Article 147 of the Civil Code states that the perpetrator has the right to request the people's court or arbitration institution to revoke a civil legal act based on a major misunderstanding.

    Article 148 of the Civil Code states that if one party fraudulently causes the other party to commit a civil legal act against its true intention, the fraudster has the right to request the people's court or an arbitration institution to revoke it.

    Article 149 of the Civil Code states that if a third person commits a fraudulent act and causes one party to commit a civil legal act against its true intention, and the other party knows or should know about the fraudulent act, the fraudster has the right to request the people's court or an arbitration institution to cancel it.

    In Article 150 of the Civil Code, if a party or a third person coerces the other party to perform a civil legal act against its true intention by means of coercion, the coerced party has the right to request the people's court or an arbitration institution to revoke it.

    In Article 151 of the Civil Code, if one party makes use of the other party's situation such as being in a state of distress and lack of judgment ability, which makes the civil legal act obviously unfair when it is established, the injured party has the right to request the people's court or arbitration institution to revoke it.

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    2024-06-05 22:01:41

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