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Article 377. Termination of an Obligation by Liquidation of the Legal Entity

1. An obligation shall be terminated by liquidation of the legal entity (debtor or creditor), except for the cases where legislation delegates the execution of the obligation of the liquidated legal entity to any other legal entity (in the obligations which arise as a result of causing harm to life and health etc.).

2. Termination of activities or reorganisation of the state bodies, including the local representative and executive bodies, shall not terminate the obligations in which such bodies are debtors. The execution of said obligations shall be entrusted to a body which manages the funds of the budget, unless it is otherwise stipulated by the resolution concerning the termination of activities or reorganisation of the relevant bodies.

Subsection II. General provisions concerning agreements Chapter 22. The Definition and Conditions of Agreements Article 378. The Definition of Agreement

1. An arrangement of two or several persons concerning the establishment, amendment or cessation of civil rights and obligations shall be recognised as agreement.

2. The rules for bilateral and multilateral transactions as stipulated in Charter 4 of this Code, shall apply to agreements.

3. General provisions concerning agreements shall apply to agreements concluded by more than two parties (multilateral agreements), unless this contradicts the multilateral nature of such agreements.

Article 379. The Legal Relations Which Arise from Agreements

1. Obligatory, corporeal, copyright legal relations and other legal relations may arise from agreements.

2. The general provisions concerning obligations (Article 268 - 377 of this Code) shall apply to obligations arising from agreements, unless it is otherwise specified by the rules of this chapter and rules concerning specific types of agreements which are contained in this Code.

3. The provisions of this Chapter shall apply to corporeal, copyright or other legal relations which arise from agreements (agreements for joint activities, foundation agreement, copyright agreements and other), unless it otherwise ensues from legislation, agreement or the essence of the legal relation.

Article 380. Freedom of Contract

1. Citizens and legal entities shall be free in concluding agreements. Compulsion to conclude an agreement shall not be allowed, except for the cases where the obligation to conclude an agreement is contemplated by this Code, legislative acts or by the obligation adopted voluntarily.

2. Parties may conclude agreements both as provided for and as not provided for by legislation.

Article 381. Mixed Agreements

Parties may conclude an agreement which contains the elements of various agreements provided for by legislation (mixed agreement). The relations of the parties in certain parts of a mixed agreement shall be subject to relevant legislation concerning agreements, the elements of which are contained in the mixed agreement, unless it otherwise ensues from the agreement of the parties or the essence of the mixed agreement.

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