1. Please explain the relationship between the following twoarticles(They are taken from some country’s CONTRACT LAW).
a) “If a party fails to perform its obligations under acontract, or its performance fails to satisfy the terms of thecontract, it shall bear the liabilities for breach of contract suchas to continue to perform its obligations, to take remedialmeasures, or to compensate for losses.”
b) “A party who is unable to perform a contract due to forcemajeure is exempted from liability in part or in whole in light ofthe impact of the event of force majeure, except otherwise providedby law. Where an event of force majeure occurs after the party'sdelay in performance, it is not exempted from suchliability.
2. Compare the following two articles. Firstly,LIST the differences between the two. Secondly,EXPLAIN the reason for the amendment of thelaw.
Current Article:
Every shareholder shall be entitled to review and duplicatethe company’s bylaw, the minutes of the shareholders’ meetings, theresolutions of the board of directors’ meetings, the resolutions ofthe board of supervisors’ meetings, as well as the financialreports.
Every shareholder may request to review the accounting books of thecompany. Where a shareholder requests to review the accountingbooks of the company, it shall submit a written request, whichshall state his motives. If the company, has the legitimate reasonto believe that the shareholder’s requests to review the accountingbooks has an improper motive and may impair the legitimateinterests of the company, it may reject the request of theshareholder to review the books and shall, within in 15 days afterthe shareholder submits a written request, give the shareholder awritten reply, which shall include an explanation. If the companyreject the request of any shareholder to review the accountingbooks, the shareholder may plead a people’s court to demand thecompany to open the books for his review.
Old article :
Every shareholder shall be entitled to review the minutes of theshareholders’ meetings as well as the financial reports.
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