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Official information keeps silent and it is not known when the first transaction has ever been made, in what country and what it referred to. According to the unofficial information, the first transaction was made between Eve and Devil, as a result of which the human race was expelled from Paradise.

On daily basis hundreds of thousands of verbal and written transactions are made in the whole world. Each transaction is made by man, organization, the state. The higher the moral and human features, faith, love of the one making a transaction, the more fruits the given transaction will bring to mankind, society, country and vice versa. For example, after being deported by nomadic people in western part of our historical homeland in the twentieth century, million people were slaughtered due to verbal and written transactions made with certain countries. Or at the end of twentieth century, a part of our historical homeland was liberated due to transactions made with one another.

These are all global examples about kind and evil transactions. But today, it is necessary to observe three mandatory conditions when entering into transactions between one another.

a. A transaction is to be made with an assurance that it is not made under delusion, deceit, violence and that the other party to the transaction has not mental disorders and is of legal age.

b. A transaction does not contradict any acting laws, legal acts and does not contain such acts and conducts which are criminally prosecuted.

c. Before making a transaction, it is desirable to recall the following commandment in the principal book.

It is important that a party to the transaction is endowed with legal knowledge and is conscious that after making the transaction it is obligatory to accept the game rules which is written thereafter. Below are the cases when transactions are declared invalid.

Also invalidated (fake transactions...) Particularly, transactions are juridically declared invalid or null (invalidation consequences are applied in respect of the latter) if:

1. fake transactions are made

2. fabricated transactions are made

3. transactions of a citizen who is declared incapable

4. transactions of a minor

5. significant transactions made under delusion

6. transactions made under deceit and violence

7. transactions made by incompetent legal entities

Fake transactions. Fake transactions are made without any intention to bring about respective legal consequences. For example, a property is sold under the name of a third person, but the factual owners remain the same.

Fabricated transactions. It is a transaction when another transaction is made with a view to concealing (disguising) another transaction. For example, to avoid performing responsibilities in the future, a debtor alienates his or her property owned by virtue of an ownership right.

Transactions made by a citizen who is declared incapable and limited incapable. Transactions made by a citizen who is declared incapable as a result of mental disorder are null and void, whereas transactions made with regard to the alienation of a property by a citizen who is declared limited capable without a trustee can be declared null and void by the court on basis of the claim filed by the trustee.

Transactions of minors. Transactions made by minors of under fourteen years of age are deemed to be null and void, except for everyday (domestic) transactions and in compliance with provisions envisaged by Article 29 of RA Civil Code. Transactions made by minors from fourteen to eighteen years of age without their parents’ or guardian’s consent, can be invalidated judicially, except for salary, pensions and other cases envisaged by Article 30 of RA Civil Code.

Invalidation of transactions made by incompetent legal entities is a transaction of legal entities who  do not bear any respective license or are definitely limited by the legal entity under the latter’s charter. Invalidation of one part of the transaction does not result in invalidation of the other part thereof if the transaction could be made without the inclusion of the invalidated part.

It is necessary to know that the Legislation stipulates limitation of actions regarding the invalidation of transactions.