【正文】 on institution to modify or revoke the following contracts: 　　 (1) those concluded as a result of significant misconception。 　　 (2) those that are obviously unfair at the time when concluding the contract.　　 If a contract is concluded by one party against the other party39。s true intentions through the use of fraud, coercion, or exploitation of the other party39。s unfavorable position, the injured party shall have the right to request the people39。s court or an arbitration institution to modify or revoke it.　　 Where a party requests for modification, the people39。s court or the arbitration institution may not revoke the contract.　　Article 55 The right to revoke a contract shall extinguish under any of the following circumstances: 　　 (1) a party having the right to revoke the contract fails to exercise the right within one year from the day that it knows or ought to know the revoking causes。 　　 (2) a party having the right to revoke the contract explicitly expresses or conducts an act to waive the right after it knows the revoking causes.　　Article 56 A contract that is null and void or revoked shall have no legally binding force ever from the very beginning. If part of a contract is null and void without affecting the validity of the other parts, the other parts shall still be valid.　　Article 57 If a contract is null and void, revoked or terminated, it shall not affect the validity of the dispute settlement clause whi is independently existing in the contract.　　Article 58 The property acquired as a result of a contract shall be returned after the contract is confirmed to be null and void or has been revoked。 where the property can not be returned or the return is unnecessary, it shall be reimbursed at its estimated price. The party at fault shall pensate the other party for losses incurred as a result therefrom. If both parties are fault, ea party shall respectively be liable.　　Article 59 If the parties have maliciously conducted collusion to damage the interests of the State, a collective or a third party, the property thus acquired shall be turned over to the State or returned to the collective or the third party.　　apter 4 Performance of Contracts　　Article 60 Ea party shall fully perform its own obligations as agreed on. 　　 The parties shall abide by the principle of good faith, and perform obligations of notification, assistance, and confidentiality, etc. in accordance with the nature and purpose of the contract and the transaction practice.　　Article 61 Where, after the contract bees effective, there is no agreement in the contract between the parties on su contents as quality, price or remuneration, or place of performance etc., or su agreement is ambiguous, the parties may agree on splementary terms through consultation。 if a splementary agreement cannot be reaed, su terms shall be determined in accordance with the relevant provisions of the contract or the transaction practices.　　Article 62 Where certain contents agreed on by the parties in the contract are ambiguous and cannot be determined in accordance with the provisions in Article 61 of this Law, the following provisions shall be applied: 　　 (1)if quality requirement is not clear, performance shall be in accordance with the state standard or industry standard。 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。 　　 (2)if price or remuneration is not clear, performance shall be in accordance with the prevailing market price at the place of performance at the time the contract was concluded, and if adoption of a price missioned by the government or based on government issued pricing guidelines is required by law, su requirement applies。 　　 (3)where the place of performance is not clear, if the obligation is payment of money, performance shall be at the place where the payee is located。 if the obligation is delivery of immovable property, performance shall be at the place where the immovable property is located。 for any other subject matter, performance shall be effected at the place of location of the party fulfilling the obligations.　　 (4)if the time of performance is not clear, the obligor may perform, and the obligee may require performance, at any time, provided that the other party shall be given the time required for preparation。 　　 (5)if the method of performance is not clear, performance shall be rendered in a manner whi is conducive to realizing the purpose of the contract。 　　 (6)if the responsibility for the expenses of performance is not clear, the party fulfilling the obligations shall bear the expenses.　　Article 63 Where the governmentfixed price or governmentdirected price is followed in a contract, if the said price is readjusted within the time limit for delivery as stipulated in the contract, the payment shall be calculated according to the price at the time of delivery. Where a party delays in delivering the subject matter, the original price shall be adopted if the price rises。 and the new price shall be adopted if the price falls. Where a party delays in taking delivery of the subject matter or making payment, the new price shall be adopted if the price rises, and the original price shall be adopted if the price falls.　　Article Where the parties agree that the obligor shall perform the obligations to a third party, and the obligor fails to perform its obligations to su third party or its performance of the obligations is not in conformity with the agreement, the obligor shall be liable to the obligee for brea of contract.　　Article 65 Where the parties agree that a third party performs the obligations to the obligee, and the third party fails to perform the obligations or the performance is not in conformity with the agreement, the obligor shall be liable to the obligee for brea of contract.　　Article 66 Where both parties have obligations toward one an