Execution of obligations: what should a debtor remember?

The fulfillment of obligations is an integral part of civil and economic turnover. Without the commission of such an act, the existence of the obligation law as a special sub-sector of private law does not make sense on the part of the debtor. But what is the fulfillment of obligations?

Briefly on the concept, conditions and principles

The legal definition says that this is a special manner of behavior of the debtor, in which he is obliged to commit or refrain from actions that constitute the subject (basis) of the obligation. As can be seen from the definition, the person is required to follow one of the proposed options: either to act, i.e. Actively commit something, or inactivity; Refrain from following a given manner of behavior. The debtor in both cases undertakes to follow clearly prescribed instructions. This clarification is important, because Otherwise, the creditor may refuse to accept the obligation, which gives rise to the application of other norms of the obligation law.

Therefore, we must remember the main conditions that always accompany the fulfillment of the obligation:

1. Personal execution consists in the fact that the debtor is obliged to fulfill independently the obligations assumed, except for cases when the parties did not directly agree that such actions will be committed by third parties;
2. Then the obligation must be fulfilled then and to the extent agreed by the parties, otherwise the debtor risks not fulfilling his duty or executing it in an inappropriate form;
3. The obligation is fulfilled only with respect to its subject matter;
4. The debtor fulfills the obligation only in the place indicated by the creditor.

In addition to the submitted conditions, the fulfillment of obligations must be subject to the principles established by law. And they are the principle of proper execution and the principle of binding performance of the contract. Both of them appear as special principles, peculiar only to the law of obligations. So do not forget about the general principles that form the civil law.

But the main thing in the phenomenon under consideration is the way in which the obligations are fulfilled.

Methods of performance of obligations

In the theory of civil law, the fulfillment of an obligation can be made only in two ways.

The first is the proper performance. The debtor performs the duties assigned to him in accordance with the conditions agreed with the creditor.

The second way is abstention from acting in favor of the lender. This means that in the agreed terms the debtor undertakes not to do this or that way. It is worth noting that the latter is much easier to perform. In the obligations are clearly prescribed all the circumstances of such behavior.

Often, the ways of fulfilling obligations are substituted by the term "enforcement of performance." This situation is fundamentally wrong. As noted earlier, the phenomenon under consideration appears the final chord of relations. While enforcement is just a measure that provides a guarantee that the commitment will be honored.

Methods of securing the fulfillment of obligations include:

1. Bail;
2. pledge;
3. Forfeit;
4. Bank guarantee of performance of obligations;
5. Letter of credit.

All these types of their legal essence can not act as a performance obligation. They provide the creditor with the opportunity to make sure that if the obligation is not met or its execution is not carried out as it was agreed upon, then it will be able to claim a certain compensation. To a greater extent this provision is provided by means of a special instrument - a bank guarantee for the performance of obligations.

Concluding consideration of the presented institute, it is necessary to note that the fulfillment of obligations is an important institution, the absence of which can lead to one-sidedness and uselessness of the entire sub-sector of the compulsory law.