【正文】 arbitration institution to alter or rescind any of the following contracts:(1) any contract which is made under substantial misunderstanding。 where either party unjustifiably hastens the fulfillment of the conditions, the conditions shall be deemed as not fulfilled.Article 46 The parties may agree to attach a time limit for the entry into effect of a contract. A contract with an attached time limit for its entry into effect shall bee effective upon expiry of the time limit. A contract attached with a time limit for its termination shall lose its effect upon expiry of the time limit.Article 47 A contract entered into by a person with limited civil capacity may bee valid only after ratification by his legal agent. However, a contract of such kind which is purely profitmaking or the making of which is patible to the age, intelligence and mental health of the person concerned needs no ratification by his legal agent.The counterpart may urge the legal agent to give ratification within one month. Where the legal agent does not respond, the nonresponse shall be deemed a refusal of ratification. Pending the ratification, the bona fide counterpart has the right to rescind. The rescission shall be made by a notice.Article 48 A contract that is entered into by an actor without the right of agency, in excess of the right of agency or beyond the expiration of the right of agency, in the name of a principal and without ratification by the principal, shall have no binding force on the principal, and the actor shall bear the responsibility therefor.The counterpart may urge the principal to give ratification of the contract within one month. Where the principal does not respond, the nonresponse shall be deemed a refusal of ratification. Pending the ratification, the bona fide counterpart has the right to rescind. The rescission shall be made by a notice.Article 49 Where an actor enters, without the right of agency, in excess of the right of agency or beyond the expiration of the right of agency, into a contract in the name of a principal, and where the counterpart has grounds to believe that the actor has the right of agency, the act of agency shall be deemed as effective.Article 50 Where a legal person, or the legal representative or the person in charge of an organization exceeds the limits of power in making a contract, the act of representation shall be effective unless the counterpart is aware or ought to be aware of the excess of the limit of power.Article 51 Where a person without the right of disposal disposes of another39。 or(4) the offeree makes a substantial change of the content of the offer.Article 21 An acceptance is an assent indication of the offeree to an offer.Article 22 An acceptance shall be made in form of a notice, unless, in light of trade practices or as indicated by the offer, the offeree may indicate the assent by performing an act.Article 23 An acceptance shall reach the offeror within the time limit fixed by the offer.If no time limit is fixed by the offer, the acceptance shall reach the offeror in accordance with the following provisions:(1) if an offer is made orally, acceptance shall be made promptly unless the parties stipulate otherwise。(7) liability for breach of contract。s Republic of China(Adopted at the Second Session of the Ninth National People39。(4) quality。(2) there are grounds for the offeree to maintain the irrevocability of the offer and the offeree has made preparations for the fulfillment of the contract.Article 20 An offer loses its effect under any of the following conditions:(1) a rejection notice of the offer has reached the offeror。s attention to the exemptible and restrictive clauses regarding its liability, and give explanations of such clauses at the request of the other party.Standard clauses means the clauses that are formulated in anticipation by a party for the purpose of repeated usage and that are not a result of consultation with the other party in the making of the contract.Article 40 Standard clauses shall bee invalid if they fall under any of the circumstances set forth in Articles 52 and 53 of this Law or if the party that provides the standard clauses exempts itself from the liability, imposes heavier liability on the other party, or precludes the other party from its main rights.Article 41 If a dispute arises over the understanding of a standard clause, the clause shall be interpreted in accordance with its mon understanding. If a standard clause has more than one interpretation, the clause shall be interpreted in a manner unfavorable to the party providing the clause. If a standard clause is inconsistent with the nonstandard clause, the nonstandard clause shall be adopted.Article 42 In the making of a contract, the party that falls under any of the following circumstances, causing thus loss to the other party, shall hold the liability for the loss.(1) engaging in consultation with malicious intention in name of making a contract。(4) harm is done to social and public interests。 if they are unable to reach a supplementary agreement, the problem shall be determined in accordance with the related clauses of the contract or with trade practices.Article 62 Where the parties have unclearly stipulated related contents in a contract and fails to determine them in accordance with the provisions of Article 61 of this Law, the following provisions shall apply:(1) in case of unclear quality requirements, the contract shall be performed in accordance with State standards or trade standards, or in the absence of such standards, in accordance with mon standards or special standards conforming to the aim of the contract。 if the price drops at the delivery, the new price shall be the fulfilling price. Where an overdue deliverytaking or overdue payment occurs, the new price shall be the fulfilling price if the price goes up。s anticipated discharge of debts shall be borne by the debtor.Article 72 The credi