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TIME AND PLACE OF THE FORMATION OF A CONTRACT - DEFINING ELEMENTS OF THE CONSENT IN MATTERS RELATING TO CONTRACTS
Abstract
The contract is concluded at the time and the place where the offer meets its acceptance. The article aims to deal with these elements, as key aspects in forming the parties' consent. The time and place are different as it depends whether the contracts are concluded between parties personally or in the parties' absence. The specialized legislation in this field, in addition to the rules above, it distinguishes also between the time and place of distance contracts and the time and place of the conclusion of contracts by electronic means. Moreover, by establishing the time and place of the formation of a contract, the parties' consent to conclude that contract is formed, and, not least, the contract itself, resulting thus their importance.
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