Legal basis: Civil Code of People's Republic of China (PRC).
Article 464 A contract is an agreement between civil subjects to establish, change or terminate a civil legal relationship.
Agreements on status relations such as marriage, adoption and guardianship shall be governed by legal provisions on such status relations; If there are no provisions, the provisions of this part can be applied according to their nature.
Article 465 A lawfully formed contract shall be protected by law.
A legally established contract is legally binding only on the parties, except as otherwise provided by law.
Article 478 An offer is invalid under any of the following circumstances:
(1) The offer was rejected;
(2) The offer is revoked according to law;
(3) When the acceptance period expires, the offeree fails to make an acceptance.
(4) The offeree makes substantial changes to the contents of the offer.
Article 483 A contract is formed when an acceptance becomes effective, unless otherwise provided by law or agreed by the parties.
Article 484 When the notification acceptance takes effect, the provisions of Article 137 of this Law shall apply.
If the acceptance does not need to be notified, it will take effect when the acceptance is made according to the requirements of trading habits or offers.
Article 490 Where the parties conclude a contract in the form of a contract, the contract is formed when the parties sign, seal or fingerprint it. Before signing, sealing or fingerprinting, one party has fulfilled its main obligations, and the contract is established when the other party accepts it.
A contract shall be concluded in written form as stipulated by laws, administrative regulations or agreed by the parties. If the parties do not do this in writing, but one party has fulfilled its main obligations and the other party accepts it, the contract is established.
Article 502 A lawfully formed contract shall become effective upon its formation, unless otherwise provided by law or agreed by the parties.
In accordance with the provisions of laws and administrative regulations, if the contract should go through the approval procedures, such provisions shall prevail. If the failure to go through the formalities such as approval affects the effectiveness of the contract, it will not affect the performance of the obligation clauses such as approval and the effectiveness of relevant clauses in the contract. If the party that should go through the formalities for approval fails to perform its obligations, the other party may require it to bear the responsibility for violating its obligations.
The modification, assignment and dissolution of a contract shall be subject to the provisions of laws and administrative regulations, and the provisions of the preceding paragraph shall apply and shall be subject to approval.