NOTIFICATION CLAUSE

NOTIFICATION CLAUSE

This clause is important as, in many cases, the partners of an agreement inform themselves orally, establishing modifications of the initial agreement or ways of solving controversies without writing them. In such cases, we come to the situations when no written form exists.

In the meaning of the present agreement, any notification or communication addressed by a partner to the other is considered fulfilled if it is transmitted to the latter at the above mentioned address at the beginning of the agreement. In the case the communications is by mail, it should be done in the form of a registered letter that is considered to be received by the addressee in x days since the sending of the post office. In the case, the communication is in the form of a fax or telex, it is considered to be received by the addressee in the first -working day following the one used for sending it.

The oral communications are not taken into consideration by either of the partners if they are not confirmed by one of the already mentioned ways from the present article.

- Agreement dividing

The Romanian jurisdiction has a principle according to which cancelling a part of a juristic fact does not bring about the nullity of the whole fact but the activity has demonstrated that cancelling certain clauses makes impossible the continuation of the respective agreement.

In the situation that a clause or a part of the agreement is considered null, the clauses that are still valid will continue to act, exception is the case when the cancelled clause (or act) contains the main obligation. The main obligations of the present agreement are considered to be the fallowing ones: (and they are presented)

- ceasing of an agreement

The ceasing of an agreement implies the appearance of a clause that makes impossible the fulfillment of the agreement or its cancelling. There are two variants: either the obligations of two parts are fulfilled at once or cancelling an agreement implies that the obligations of at least one partner are fulfilled step by step (gradually). In both cases, one of the partners demonstrates that he has not fulfilled the obligations while the other one has already done or is ready to do it. The present agreement ceases to exist without the intervention of the courts, in the moment when any of the parts:

does not fulfill an obligation considered to be essential for the present agreement (see the dividing clause) or

it is considered to be in the incapacity of paying, insolvency or

brings about the winding up before beginning the fulfillment of the agreement (in the case of physical persons, winding up means the death of a partner or being under an interdiction)

or transfers the right and obligations after he (or she) has been announced that any situation of this kind will bring about the cancelling of the agreement in maximum x days, since the date of the non fulfillment of the obligations,

the partner does not execute or executes the obligations, in a suitable way.

The partner that requires the cancelling of the agreement will announce the partner about this fact with minimum x days in advance. The cancelling won 't have any effect on the obligations that are already developed between partners.

The provisions of this article do not reject the responsibility of the partner that has brought about the ceasing of the agreement.

- Final provisions

In the present situation, the third paragraph contains a note less frequent in our law. It makes reference to the specific of the commercial law of offering the partners the right of real agreement clauses:

The modification of the present agreement may be only in a written form, having the agreement of the partners. The present agreement, together with modifications and schedules, represent the wishes of the partners and reject any oral agreement between them, either before or after the agreement signing.

In the case when one of the partners, does not respect an obligation, the non- practising of the right of fulfilling accordingly or by agreement of the respective obligation by the injured partner does not mean that the latter has given up the respective right

The present agreement has been drawn today, in four copies, two of them have been given to _

Part one Part two

(the name of the partners, the name and quality of the man who signs are presented in the contract)