Commission Contract Commission – under a commission contract, one party (the commission agent) undertakes, at the request of the other party (the principal), to conclude one or more transactions in…
Concept and Legal Basis of Suretyship Suretyship is a contract under which a guarantor, for compensation or free of charge, undertakes to be liable to the creditor of another person…
Termination of Legal Entities: Reorganization and Liquidation Legal entities may cease to exist in two ways: through reorganization or liquidation. The difference between these methods lies in the fact that…
Definition of a Lease Agreement A lease is the granting of the right to use a created object, the object of neighboring rights, or its original or duplicate for a…
Conditions of Gratuitous Use of Property Loan for Use (Gratuitous Use of Property) – is a right granted by the lender to the borrower to possess and use property free…
Mandate Agreement A mandate – under a mandate agreement, one party (the agent) undertakes, on behalf of and at the expense of the other party (the principal), to carry out…
State-Guaranteed Legal Assistance The state (in the Republic of Lithuania) guarantees the provision of legal aid to natural persons so that they can properly defend their violated or disputed rights…
Definition and Scope of Commercial Power of Attorney A commercial power of attorney is a legal authorization by which a legal entity (entrepreneur) grants its employee or another person the…
Principles of Concluding a Contract A contract for work is an agreement in which one party (the contractor) undertakes to perform a certain task at their own risk, in accordance…
Definition of Earnest Money Earnest money – is a sum of money that one party to a contract pays to the other, using funds allocated for the performance of the…