According to common law and the Cyprus Contracts Law, Chapter 149, a contract is defined as an agreement between two or more parties, whether they be natural persons or legal entities, that regulates the sale of commodities, the provision of services, the exchange of interests, or ownership. Contract laws are some of the most crucial regulations because Cyprus is a growing business and trade center. The main source of authority on Cyprus’s contract law is Cap. READ MORE
For a contract to be legally binding it must contain the following elements: Intent For a contract to be legally binding both parties must have the intention to enter into a legal relation. In most cases the presence of a consideration is evidence enough, but not in all. If it is proven that intent is not present in either of the parties, the contract becomes invalid and will not be valid in a court of law. READ MORE
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