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Contracts

According to Article 8 of the Bulgarian Obligations and Contracts Act, a contract is an agreement between two or more persons to create, settle or destroy a legal relationship between them.

“Antonii Dimitrov” Law Firm has extensive experience in drafting complex and sophisticated contracts. The most commonly used contracts in practice, which “Antonii Dimitrov” law firm draws up, are:

By this contract, the seller of a real estate property agrees to transfer the ownership of the property to the buyer and to hand over the possession of the property to the buyer in exchange for which the buyer agrees to pay the price and to receive the possession of the property.

By this contract, the parties agree to enter into a definitive contract for the transfer of the right of property of an estate. Often with this contract, the seller agrees to transfer the possession of the real estate and the buyer pays a portion of the price as a down payment.

In this contract, a partner in a limited liability company (LLC) transfers his partnership shares in the LLC to another partner or to a third party and in return the buyer pays a price.

In a lease agreement, the landlord undertakes to provide the tenant with an item for temporary use and the tenant undertakes to pay the landlord a specified price.

By this contract, a person called in practice a transferor transfers the title to the immovable property to another person called a transferee against the obligation of the transferee to look after and maintain the transferor for the rest of his life.

By so-called agency contracts, a person called a commercial agent (the commercial agent is always a merchant) undertakes to cooperate independently and by trade with another merchant (called in practice a principal) in the conduct of his business. The cooperation most often consists of the conclusion of transactions by the commercial agent with third parties in the name and on behalf of the principal, in return for which the commercial agent receives remuneration.

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