Public contract as a legal institute of state regulation of the economy

Modern practice of economic activity needs, as is known, in a variety of legal forms of organization and regulation of economic relations. The contract has been applied in this area for a long time and successfully, being a legal instrument for the development of economic life. However, such a tradition of the existence and execution of contractual relationships between economic entities does not preclude the introduction of new legal concepts and categories not previously mentioned in the legislation. This type of novels should also include the category of public contracts, which summarized in the arsenal of current economic legislation with the entry into force of the first part of the Civil Code of the Russian Federation (hereinafter - the Civil Code). The public contract acts as a full-fledged legal institution of state regulation of the economy and successfully copes with its tasks.