Consensual transactions is a concept that involves a certain agreement between the parties. Before you understand what this term means, you need to understand what the deal implies in principle. In the field of jurisprudence, this is defined as a specific action that aims to change, establish or completely terminate all civil rights and obligations.
A deal is ...
A deal is a deliberate action that is backed up by the will of a person. The essence of the concept is based precisely on the will of the subject of legal relations.
A transaction involves a minimum of two people, but there are times when a contract is made by only one. The expression of will is valid if it is aimed at changing or terminating some rights and obligations in relations with another participant in the process.
A similar intention is expressed in various ways, but the main condition is understandability for others. The main options are oral speech, written, some specific action or simply silence.
A consensual contract is precisely such actions in relation to another person or group of persons. Along with this, this type of transaction has its main elements and conditions.
Unilateral, bilateral and multilateral
The one-sided type of contracts implies the existence of a will that comes from at least one participant in the process. It is important that it is consistent with all legal acts. The result of such a transaction is the creation of some specific responsibilities for the person who completed this process.
Bilateral, respectively, should be supported by two wills, with each of the parties pursuing its own legal goal. The main point is that any party can be formed from one or more legal or civil entities. For a multilateral transaction to be considered completed, at least three wills are needed. Sometimes a process is carried out with both four and five sides. The main rule is a single point of view of at least two participants.
A consensual transaction is a concept that can partly be based on similar types of contracts, but its difference is the result.
Compensated and gratuitous
A reimbursable agreement assumes that for specific actions on the part of one participant, an obligation will be given to the other to provide certain benefits (for example, material). It can be money, services, things, work and much more. A free transaction is based on the fact that there is no obligation on the part of another participant. This type will include exclusively unilateral agreements.
Consensual and real transactions in civil law
It is generally accepted that this type of contract exists in the economic sphere, but this is not the only field for its application. A consensual transaction is the creation of civil rights and obligations at a time when all parties have reached mutual understanding and achieved some kind of result. In the process, there is no need to confirm your decisions by transferring some things, this is only necessary during execution.
A consensual transaction is a contract between the parties that works only under the conditions of sale or lease. It is also used when rendering occurs, performing certain works and everything that happens afterwards.
To achieve a result during a real transaction, not only agreement between the participants in the process is necessary, but also an appropriate transfer of things. This type also includes agreements that result in the transfer of material goods into the ownership of another person. Such a transaction may be temporary.
Abstract and casual
The causal option shows what kind of legal goals it achieves. For example, in a purchase and sale transaction it is noticeable what material benefit the buyer wants to receive in his property, and against this background, the seller already has the right to demand payment for the property provided. Abstract transactions are those that ultimately create rights and obligations that are not related in meaning to the basis of the contract. In accordance with applicable law, all transactions related to the transfer and issuance of securities are the main part of this type.
Fiduciary
Fiduciary is a special type of transaction, which is based on the background of particularly trusting and personal relationships between participants in the process. If one party ceases to relate to the other in this way, then everyone has the right to stop fulfilling the terms of the contract. For example, in order transactions, any participant may optionally not fulfill the conditions, and an explanation of the reasons is optional.
If the parties are represented by a certain partnership, then each person can leave this association, even if the others do not agree with this. That is, in such a process, a person has a complete free exit from the transaction, if necessary. This type is extremely rare.
Transaction result
The transaction may occur due to suspensive or derogatory conditions. It is generally accepted that an agreement that ends with a suspensive condition is completed if each of the parties has informed that the rights and obligations will come only when certain circumstances occur. That is, it is not known whether they will come or not.
It is fair to assume that rights and obligations as a result of this do not occur at the time the transaction is completed, but during the specific circumstances. A transaction terminated with a conditional condition will rightfully be considered completed when the parties have agreed that the rights and obligations will cease to function during the onset of some circumstances.
An example is the case when a person rents premises for a long time, but the tenant says that if the tenant keeps the building in a terrible state, then the contract is canceled. When these circumstances come, it is unknown, but it is clear that the lease will be stopped immediately. Rights and obligations come into force when this agreement is accepted, and terminate if the tenant litter or spoil the inventory.