As an American, you may need a lawyer in Hungary to draft a contract, if you want more guarantee, than just a handshake. Handshakes and gentlemen’s agreements are important, but it is no surprise why so many say:
„Until the contract is signed, nothing is real.” – Glenn Danzig
Hungarian law and legal practices vary significantly from the UCC and US common law. A lawyer who is familiar with Hungarian laws and regulations can ensure that the contract is legally binding and complies with all relevant laws in Hungary. Additionally, a lawyer can assist in negotiating the terms of the contract and protecting the interests of the American party.
It’s clear that the basic elements of a contract under the Hungarian Civil Code (HCC) are quite similar to that required by US law; namely, an offer needs to be accepted by the other party in return for something of value (money, goods, or services). It’s simple as Do-Re-Mi.
However, the regulations in the HCC regarding the offer and acceptance, as well as the jurisprudence of the courts differ way more, than how the common law differs from the UCC.
In addition to that, certain types of contracts may be required to be in writing, signed by both parties, and/or notarized by an attorney or a notary public in order to be valid (e.g. a real estate purchase agreement or a joint will).
It’s important to note that the requirements of a contract may vary depending on the specific nature of an agreement too. It is quite obvious that the essential elements of an athlete’s employment contract are quite different from a contract for the sale of an agricultural land or an energy service contract.
An attorney familiar with Hungarian law can help ensure that a contract meets all the necessary requirements of the given legal field.
Our law firm uses electronic means to sign documents and communicate with clients as widely as possible, so you can conclude a contract or “meet” us online at any time.
If you are in need of a lawyer for contract negotiations, drafting agreements or legal representation in a lawsuit arising from a contract, feel free to contact dr. Balázs Ács from NZP NAGY LEGAL. Balázs and the NZP Team will be happy to give legal counsel and represent you.
The author of this article is on the list of lawyers and law firms provided by the U.S. Embassy of Hungary, as a convenience to U.S. citizens and companies.
Contact: balazs.acs@nzp.de