【正文】 he obligee, the obligee may petition the People‘s Court for subrogation, except where such creditor‘s right is exclusively personal to the obligor. The scope of subrogation is limited to the extent of the obligee‘s right to performance. The necessary expenses for subrogation by the obligee shall be borne by the obligor. Article 74 Obligee‘s Right to Cancel Manifestly Unreasonable Act by Obligor Where the obligor waived its creditor‘s right against a third person that was due or assigned its property without reward, thereby harming the obligee, the obligee may petition the People‘s Court for cancellation of the obligor‘s act. Where the obligor assigned its property at a low price which is manifestly unreasonable, thereby harming the obligee, and the assignee was aware of the situation, the obligee may also petition the People‘s Court for cancellation of the obligor‘s act. The scope of cancellation right is limited to the extent of the obligee‘s right to performance. The necessary expenses for the obligee‘s exercise of its cancellation right shall be borne by the obligor. Article 75 Time Limit for Exercising Obligee‘s Cancellation Right The obligee‘s cancellation right shall be exercised within one year, mencing on the date when it became, or should have bee, aware of the cause for cancellation. Such cancellation right is extinguished if not exercised within five years, mencing on the date of occurrence of the obligor‘s act. Article 76 A Party‘s Internal Change Not Excuse for Nonperformance Once a contract bees effective, a party may not refuse to perform its obligations thereunder on grounds of any change in its name or change of its legal representative, person in charge, or the person handling the contract. Chapte。 Exception The obligee may reject the obligor‘s early performance, except where such early performance does not harm the obligee‘s interests. Any additional expense incurred by the obligee due to the obligor‘s early performance shall be borne by the obligor. Article 72 Right to Reject Partial Performance。 (ii) It has engaged in transfer of assets or withdrawal of funds for the purpose of evading debts。 for any other subject matter, performance shall be at the place where the obligor is located。 absent any state or industry standard, performance shall be in accordance with the customary standard or any particular standard consistent with the purpose of the contract。 where restitution in kind is not possible or necessary, allowance shall be made in money based on the value of the property. The party at fault shall indemnify the other party for its loss sustained as a result. Where both parties were at fault, the parties shall bear their respective liabilities accordingly. Article 59 Remedies in Case of Collusion in Bad Faith Where the parties colluded in bad faith, thereby harming the interests of the state, the collective or a third person, any property acquired as a result shall be turned over to the state or be returned to the collective or the third person. Chapter Four: Performance of Contracts Article 60 Full Performance。 (ii) excluding one party‘s liability for property loss caused to the other party by its intentional misconduct or gross negligence. Article 54 Contract Subject to Amendment or Cancellation Either of the parties may petition the People‘s Court or an arbitration institution for amendment or cancellation of a contract if: (i) the contract was concluded due to a material mistake。 (ii) The parties colluded in bad faith, thereby harming the interests of the state, the collective or any third party。 Liability for Disclosure or Improper Use A party may not disclose or improperly use any trade secret which it became aware of in the course of negotiating a contract, regardless of whether a contract is formed. If the party disclosed or improperly used such trade secret, thereby causing loss to the other party, it shall be liable for damages. Chapter Three: Validity of Contracts Article 44 Effectiveness of Contract A lawfully formed contract bees effective upon its formation. Where effectiveness of a contract is subject to any procedure such as approval or registration, etc. as required by a relevant law or administrative regulation, such provision applies. Article 45 Conditions Precedent。 if the recipient does not have a main place of business, its habitual residence is the place of formation of the contract. If the parties have agreed otherwise, such agreement prevails. Article 35 Place of Formation in Case of Memorandum of Contract Where a contract is concluded by a memorandum of contract, its place of formation is the place where the parties sign or seal the contract. Article 36 Effect of Failure to Conclude Contract in Writing Where a contract is to be concluded by a writing as required by the relevant law or administrative regulation or as agreed by the parties, if the parties failed to conclude the contract in writing but one party has performed its main obligation and the other party has accepted the performance, the contract is formed. Article 37 Effect of Failure to Sign in Case of Memorandum of Contract Where a contract is to be concluded by a memorandum of contract, if prior to signing or sealing of the contract, one party has performed its main obligation and the other party has accepted the performance, the contract is formed. Article 38 Contract under State Mandatory Plan Where the state has, in light of its requirements, issued a mandatory plan or state purchase order, the relevant legal persons and other organizations shall enter into a contract based on the rights and obligations of the parties prescribed by the relevant laws and administrative regulations. Article 39 Standard Terms。 Acceptance by Conduct An acceptance shall be manifested by notification, except where it may be manifested by conduct in accordance with the relevant usage or as indicat