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EXAMPLE

example of Loan contract

  Loan contract, refers to a contract where a lender delivers a certain amount of funds to a borrower, and the latter returns the same amount of funds within a certain period of time and pays interests to the lender. There are 6 terms in the contract that consists of two aspects: 1) the borrower shall submit a loan application stating the amount he/she wants to borrow, and 2) the lender may deposit funds into the contract account until the target of loan is reached. Before borrowing, the contract requires that the borrower must confirm the loan information and check the historical loan records, and then calculate the corresponding interests. Meanwhile, the contract asserts that the borrower pays off the loan amount before the loan date comes.

example of Auction contract

  Auction contract involves two parties: auctioneer who is an enterprise legal person engaged in auction activities, and bidders who are some citizens, legal persons or organizations to participate in bidding for auction targets. The highest bidding process is described as the following steps. The auctioneer starts the auction system after setting a reserve price and an auction end time, and waits for the auction to end; The bidders can bid anytime during the system. If the bid is greater than the current highest price, the system records it as new highest price, puts the bid into the fund pool, and returns the bid paid by the previous highest bidder; otherwise, the bidder fails and the bid is returned; After the auction time is over, the auctioneer can collect the highest bid from the fund pool.

example of House-leasing contract

  House-leasing contract, takes assets as the transaction subject between lessor and lessee. There are 7 terms in the contract, including two aspects: 1) the lessor can register the house after depositing the rental deposit, and 2) the lessee can keep the right to use the house during the leasing period after depositing the rent. After confirming the leased house, the contract requires that the lessee shall pay the rent, and the lessor must transfer the right to the lessee within one week. Meanwhile, the contract stipulates the pre-condition for the lessor to charge the rent paid by the lessee, and the postcondition for both parties to get their deposits back after the house inspection.

 1 contract Houselease{
 2 	party Renter{
 3 		registerHouse()
 4 		collectRent()
 5 		collectBail()
 6 		transferHouse()
 7 		checkHouse()
 8 	}
 9 	
10 	party Tenant{
11 		confirmLease(endLeasingDuration:Date,
12 			payDuration:Date)
13 		payRent()
14 		returnHouse()
15 		collectBail()
16 	}
17 	
18 	house : House
19 	infos : contractInfo
20 	
21 	term term1 : Renter can registerHouse
22 		while deposit $infos::renterBail.
23 		
24 	term term2 : Tenant can confirmLease
25 		when after Renter did registerHouse
26 		while deposit $infos::tenantBail
27 		where infos::startLeasingTime = now and
28 			infos::endLeasingTime = endLeasingDuration + now
29 			and infos::payDate = payDuration + now
30 			and infos::payDuration = payDuration.
31 			
32 	term term3 : Renter must transferHouse
33 		when within 7 day after Tenant did confirmLease
34 		while deposit $ house::useRight.
35 	
36 	term term4 : Tenant must payRent
37 		when before Tenant did confirmLease		
38 		while deposit $infos::rental
39 			withdraw $house::useRight
40 		where infos::payDate = infos::payDate + infos::payDuration
41 			and infos::totalRental = infos::totalRental + infos::rental.
42 	
43 	term term5 : Renter can collectRent
44 		while withdraw $infos::totalRental
45 		where infos::totalRental = 0.
46 	
47 	term term6 : Tenant must returnHouse
48 		when within 7 day after Renter did checkHouse
49 		while deposit $house::useRight
50 			transfer $house::useRight to Renter.
51 	
52 	term term7_1 : Renter can collectBail
53 		when within 15 day after Renter did checkHouse
54 		while withdraw $infos::renterBail.
55 	
56 	term term7_2 : Tenant can collectBail
57 		when within 15 day after Renter did checkHouse
58 		while withdraw $infos::tenantBail.
59 		
60 		type contractInfo {
61 			renterBail : Money
62 			tenantBail : Money
63 			rental : Money
64 			totalRental : Money
65 			penalty : Money
66 			startLeasingTime : Date
67 			endLeasingTime : Date
68 			payDate : Date
69 			payDuration : Date
70 		}
71 		
72 		type House {
73 			ownershipNumber : integer
74 			location : String
75 			area : integer
76 			usage : String
77 			price : Money
78 			useRight : String
79 			usufruct : String
80 			dispositionRight : String
81 			possessionRight : String
82 		}
83 }

example of Purchase contract

  Purchase contract, transfers the ownership of goods from a seller to a buyer through logistics company. There are 10 terms in the contract, including three parts: 1) once the goods are confirmed, the seller will sign a contract and take twice the contracting price as the delivery price, 2) the goods are sent to the buyer through logistics when the buyer purchases the goods, and 3) only when the logistics successfully delivers the goods to the buyer can the seller get back the payment. According to relevant laws, the contract requires the buyer can apply for compensation if goods do not arrive within 10 days after payment, or the seller can automatically confirm the arrival if the buyer does not confirm or apply for refund within 7 days after arrival.