Tuesday, March 16, 2021

Ethiopian Contract Law- Objects of Contracts

Object Defined 

Object of a contract is what parties have actually agreed to undertake. It is the obligation of both parties to the contract. The obligation may be to do something or to refrain from doing something or to give something to someone. So, object of a contract is the agreement of the parties to act, not to act, or to give.

The object of employment contract, for example, is the employers’ agreement to pay wage and employees’ agreement to do certain thing. In contract of sale of house; the obligation of the seller is to transfer ownership and possession to the buyer and the obligation of the buyer is to pay price. Object of contract differs from subject matter of contract. For example, in the above case, the work and the house are subjects of the contract. 

Moreover; object of contract differs from penalty causes of contract. Penalty causes provide a remedy or solution if a party fails to carryout his obligation (see Art. 1886-1895 of civil code). A combination of object and penalty causes gives us content of the contract. 

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