Review article
Default by creditors
Hrvoje Momčinović
; Ustavni sud Republike Hrvatske
Abstract
In this paper, the author focuses on the default by creditors provided for in the provisions of Articles 184 and 185 of the Obligations Act (Official Gazette NN no. 35/05) (hereinafter OA), and on the depositing and sale of owed things (provided for in the provisions of Articles 186 to 194 of the OA) as surrogates for the fulfilment of the debtor’s obligation.
The paper begins by analysing the concept of default, the preconditions for default, the creditor’s guilt, termination of default and cases where a creditor is not in default. The paper subsequently considers the effects of the creditor’s default (the termination of the debtor’s default, transfer of risk, cessation of the flow of interest, compensation for damages and costs).
In the last section of the paper, the author discusses the surrogates for the fulfilment of the debtor’s obligation: by depositing the owed thing, by transferring the owed thing to another person’s custody, and by selling the owed thing instead of depositing it.
Keywords
default by creditors; effects of the creditor’s default; depositing owed things; transfer of the owed thing; sale of the owed thing
Hrčak ID:
20413
URI
Publication date:
18.1.2008.
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