Fulfillment of obligations is an integral part of civil and economic turnover. Without the commission of such an act on the part of the debtor, the very existence of a law of obligations as a special sub-sector of private law reality does not make sense. But what is the fulfillment of obligations?
Briefly about the concept, conditions and principles
The legal definition states 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 act, i.e. actively commit something or inaction, i.e. refuse to follow a given manner of behavior. In both cases, the debtor undertakes to comply with clearly prescribed instructions. This clarification is important because otherwise, the creditor may refuse to accept the obligation, which leads to the application of other norms of the law of obligations.
Therefore, one should remember the main conditions that always accompany the fulfillment of an obligation:
- personal performance, consists in the fact that the debtor is obliged to independently fulfill the obligations assumed, unless the parties have not directly agreed that such actions will be committed by third parties;
- the obligation must be fulfilled then and to the extent agreed upon by the parties, otherwise the debtor risks not fulfilling his duty or fulfilling it in improper form;
- the obligation is performed only in relation to its subject;
- the debtor fulfills the obligation only at the place indicated by the creditor.
In addition to the conditions presented, the fulfillment of obligations must also be subject to principles established by law. And they are the principle of proper execution and the principle of compulsory execution of the contract. Both of them appear to be special principles peculiar only to the law of obligations. Therefore, one should not forget about the general principles that shape civil law.
But nevertheless, the main thing in this phenomenon is the way in which the obligations are fulfilled.
Ways to fulfill obligations
In the theory of civil law, an obligation can be performed only in two ways.
The first is proper execution. The debtor shall fulfill the duties assigned to him in accordance with the conditions agreed upon with the creditor.
The second way is abstinence from actions in favor of the creditor. This means that under the agreed conditions, the debtor agrees not to act in one way or another. It is worth noting that the latter is much easier to complete, because liabilities clearly state all the circumstances of such behavior.
Often, ways of fulfilling obligations are replaced by the term "enforcement". This situation is fundamentally wrong. As noted earlier, the phenomenon under consideration appears to be the final chord of relations. Whereas enforcement is just a measure providing a guarantee that an obligation will be fulfilled.
The ways to ensure fulfillment of obligations include:
- surety;
- pledge;
- forfeit;
- bank guarantee of performance of obligations;
- letter of credit.
All these types in their legal essence cannot act as a performance obligation. They provide the lender with the opportunity to make sure that if the obligation is not fulfilled or if its fulfillment is not carried out as agreed, then he will be able to claim certain compensation. To a greater extent, this provision is ensured by a special tool - a bank guarantee of fulfillment of obligations.
Concluding the consideration of the presented institution, it should be noted that the fulfillment of obligations is an important institution, the absence of which may entail the one-sidedness and futility of the entire sub-branch of mandatory law.