THE SIGNIFICANCE OF THE CONCEPT OF “LEGAL REGULATION” IN THE PROCESS OF REGULATING ECONOMIC CONTRACTUAL RELATIONS IN UKRAINE

Introduction. Any relations that arise in society need constant accurate regulation to ensure their high-quality and effective existence as well as practical usage. Such regulation must be clear and ordered, and precisely legal regulation of certain relations allows the corresponding relations to exist properly within the legal framework. Its presence outlines the limits of permissible behavior, determines responsibility for the improper implementation of relevant relations, establishes rules for working with such relations, and enshrines mentioned in certain normative acts. In turn, relations that arise during the implementation of economic activities are not an exception to the rule, therefore, contracts concluded to implement such relationships also require proper regulation. In the legal field, legal regulation is capable of creating an appropriate platform for the functioning of contractual obligations in the process of implementing economic activities. Therefore, considering the significant role of legal regulation in the contractual process in the business field, there is a need to define the essence, meaning, and scope of the concept of “legal regulation” for the mentioned contracts, while also acknowledging present-day realities. The purpose of this study is to reveal different approaches to understanding the essence of the “legal regulation” concept, as well as to analyze the scope and significance of the accurate understanding of this concept within the regulation of contractual relations while implementing economic legal relationships. Materials and methods. The materials of the relevant research are: 1) scientific assets of foreign as well as internal scientists who have contributed to the scientific justification of the concept of “legal regulation”, as well as to the regulation of economic legal relationships and contracts that are concluded in the process of regulating such relations; 2) legislative support aiming to implement the legal regulation of contracts in the business field. The following research methods were used during the exploring of the topic of this article: methods of analysis, generalization, explanation, induction and deduction in order to determine the definition of the concept of “legal support” and “contract in economic legal relations”, their properties and functions; the method of logical generalization of the results aimed at formulating conclusions regarding the stated problems; methods of observation and comparison to understand the current situation regarding the implementation of legal regulation of contracts in the process of conducting economic activities. Results. The scientific article examines various definitions of the “legal regulation” concept and provides a scientific definition of the “contract in economic legal relations” concept. The article explores the peculiarities of legal regulating contracts in economic legal relationships from the perspective of legislative enactment. The role, meaning, and essence of the legal regulation for the above contracts have been clarified. The peculiarities of the legal regulation of the mentioned treaties in wartime have been determined. The article outlines several gaps in the legal regulation of business relations related to entering into contractual obligations. Prospects. In further scientific research, it is proposed to focus on improving the legal regulation of contracts in the business field, since such regulation contributes to the development of economic activity in Ukraine. Such an improvement will enable the parties to the contract to be more confident in their concluded commitments as well as facilitate the conclusion of contracts for those planning to enter into them.