Fulfilling is a typical way to end the commitment. The filling must be in the manner at the place and time as agreed. What is to be accomplished will result from a concluded contract, with the debtor being obliged to perform only what has been arranged and the lender cannot compel him to provide anything else. The creditor cannot be forced to accept some other fulfillment from the debtor. The parties can arrange for the commitment to be fulfilled in a number of ways – issuing bills, checking, opening a letter of credit. The borrower has to meet his debt at his expense and danger, properly and on time.
If the party fails properly, it is a faulty performance. Faults are divided into legal and factual. Legal defect – If a third party applies a right to the subject of performance without knowing the acquirer. Faulty deficiency – if the provided performance is lacking in features that have been set or negotiated by the parties, we are talking about factual defects. The liability for defects depends on whether the defects are removable or irreparable. For removable defects, the transferee may request a repair or addition of what is missing, or exercise the right to a discount on the price. In the case of unavoidable defects for which the item cannot be properly used, the purchaser may request reasonable discounts on the price of the goods or, if necessary, withdraw from the contract and request a refund.
If one of the parties fails to discharge its debt properly and in good time, it becomes late, in the event of a serious breach of the contractual obligations, the other party may withdraw from the contract, thereby ending the obligation.
Other ways of discharging the obligations are agreement, netting (if the parties have mutual obligations to perform the same kind), termination by payment of severance pay, merger of the person of the creditor and the debtor, debt forgiveness, termination, resignation, subsequent impossibility of fulfillment and death of the debtor or the creditor.
Fulfilling is a typical way to end the commitment. The filling must be in the manner at the place and time as agreed. What is to be accomplished will result from a concluded contract, with the debtor being obliged to perform only what has been arranged and the lender cannot compel him to provide anything else. The creditor cannot be forced to accept some other fulfillment from the debtor. The parties can arrange for the commitment to be fulfilled in a number of ways – issuing bills, checking, opening a letter of credit. The borrower has to meet his debt at his expense and danger, properly and on time.
If the party fails properly, it is a faulty performance. Faults are divided into legal and factual. Legal defect – If a third party applies a right to the subject of performance without knowing the acquirer. Faulty deficiency – if the provided performance is lacking in features that have been set or negotiated by the parties, we are talking about factual defects. The liability for defects depends on whether the defects are removable or irreparable. For removable defects, the transferee may request a repair or addition of what is missing, or exercise the right to a discount on the price. In the case of unavoidable defects for which the item cannot be properly used, the purchaser may request reasonable discounts on the price of the goods or, if necessary, withdraw from the contract and request a refund.
If one of the parties fails to discharge its debt properly and in good time, it becomes late, in the event of a serious breach of the contractual obligations, the other party may withdraw from the contract, thereby ending the obligation.
Other ways of discharging the obligations are agreement, netting (if the parties have mutual obligations to perform the same kind), termination by payment of severance pay, merger of the person of the creditor and the debtor, debt forgiveness, termination, resignation, subsequent impossibility of fulfillment and death of the debtor or the creditor.
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