Article 32 of the Contract Law of People's Republic of China (PRC) stipulates that if the parties conclude a contract in the form of a contract, the contract shall be established when both parties sign or seal it.
Article 36 of the Contract Law of People's Republic of China (PRC) stipulates that a contract shall be concluded in written form as stipulated by laws and administrative regulations or agreed by the parties. If the parties have not concluded a contract in writing, but one party has fulfilled its main obligations and the other party has accepted it, the contract is established.
Article 37 of the Contract Law of People's Republic of China (PRC) stipulates that if a contract is concluded in the form of a contract, one party has fulfilled its main obligations before signing or sealing it, and the other party accepts it, the contract is established.
Article 45 of the Contract Law of People's Republic of China (PRC) stipulates that the parties may stipulate the conditions for the validity of the contract. A contract with effective conditions shall take effect when the conditions are met. A contract with termination conditions is invalid when the conditions are met.
According to the Contract Law and other relevant laws and regulations, the contract is invalid under any of the following circumstances:
(1) A contract concluded by one party by means of fraud or coercion harms the interests of the state;
(2) Malicious collusion that harms the interests of the state, the collective or a third party;
(3) Covering up illegal purposes in a legal form;
(4) damaging the public interest;
(5) Violating the mandatory provisions of laws and administrative regulations.
References:
Baidu Encyclopedia-People's Republic of China (PRC) Contract Law