【正文】 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。 Supplementary Agreement If a term such as quality, price or remuneration, or place of performance etc. was not prescribed or clearly prescribed, after the contract has taken effect, the parties may supplement it through agreement。 (ii) intentionally concealing a material fact relating to the conclusion of the contract or supplying false information。 (v) price or remuneration。 Contract through Agent In entering into a contract, the parties shall have the appropriate capacities for civil rights and civil acts. A party may appoint an agent to enter into a contract on its behalf under the law. Article 10 Forms of Contract。 (ii) Where the offer is made in a nonoral manner, the acceptance shall reach the offeror within a reasonable time. Article 24 Commencement of the Period for Acceptance Where an offer is made by a letter or a telegram, the period for acceptance mences on the date shown on the letter or the date on which the telegram is handed in for dispatch. If the letter does not specify a date, the period mences on the posting date stamped on the envelop. Where the offer is made through an instantaneous munication device such as telephone or facsimile, etc., the period for acceptance mences once the offer reaches the offeree. Article 25 Contract Formed upon Effectiveness of Acceptance A contract is formed once the acceptance bees effective. Article 26 Effectiveness of Acceptance A notice of acceptance bees effective once it reaches the offeror. Where the acceptance does not require notification, it bees effective once an act of acceptance is performed in accordance with the relevant usage or as required by the offer. Where a contract is concluded by the exchange of electronic messages, the time of arrival of the acceptance shall be governed by Paragraph 2 of Article 16 hereof. Article 27 Withdrawal of Acceptance An acceptance may be withdrawn. The notice of withdrawal shall reach the offeror before or at the same time as the acceptance. Article 28 Late Acceptance An acceptance dispatched by the offeree after expiration of the period for acceptance constitutes a new offer, unless the offeror timely advises the offeree that the acceptance is valid. Article 29 Delayed Transmission of Acceptance If the offeree dispatched its acceptance within the period for acceptance, and the acceptance, which would otherwise have reached the offeror in due time under normal circumstances, reaches the offeror after expiration of the period for acceptance due to any other reason, the acceptance is valid, unless the offeror timely advises the offeree that the acceptance has been rejected on grounds of the delay. Article 30 Acceptance Containing Material Change The terms of the acceptance shall be identical to those of the offer. A purported acceptance dispatched by the offeree which materially alters the terms of the offer constitutes a new offer. A change in the subject matter, quantity, quality, price or remuneration, time, place and method of performance, liabilities for breach of contract or method of dispute resolution is a material change to the terms of the offer. Article 31 Acceptance Containing Nonmaterial Changes An acceptance containing nonmaterial changes to the terms of the offer is nevertheless valid and the terms thereof prevail as the terms of the contract, unless the offeror timely objects to such changes or the offer indicated that acceptance may not contain any change to the terms thereof. Article 32 Time of Formation in Case of Memorandum of Contract Where the parties enter into a contract by a memorandum of contract, the contract is formed when it is signed or sealed by the parties. Article 33 Time of Formation in Case of Letters or Electronic Messages。 (ii) the contract was grossly unconscionable at the time of its conclusion. If a party induced the other party to enter into a contract against its true intention by fraud or duress, or by taking advantage of the other party‘s hardship, the aggrieved party is entitled to petition the People‘s Court or an arbitration institution for amendment or cancellation of the contract. Where a party petitions for amendment of the contract, the People‘s Court or arbitration institution may not cancel the contract instead. Article 55 Extinguishment of Cancellation Right A party‘s cancellation right is extinguished in any of the following circumstances: (i) It fails to exercise the cancellation right within one year, mencing on the date when the party knew or should have known the cause for the cancellation。 (iii) It has lost its business creditworthiness。 (iv) If the time of performance was not clearly prescribed, the obligor may perform, and the obligee may require performance, at any time, provided that th