Scholarly record
WITHDRAWAL FROM CONTRACT DUE TO FAILURE TO PAY PURCHASE PRICE
Abstract
According to § 48 of Civil Code (Act No. 40/1964 Coll.), as effective in the Slovak Republic, contractual party may withdraw from contract if such withdrawal is granted by the law or if the contractual parties have so agreed. Accordingly, there are two rights, the statutory right and the contractual right to withdraw from contract. Both rights can be exercised in diverse situations; as a rule, however, they are exercisable as a result of a breach of contract. The remaining question is, specifically, by what time can the non-breaching party withdraw from contract, or, for that matter, whether a contractual party may withdraw from contract at any time following its breach by the other party, regardless of whether the other (obligated) party, which was in default of its obligation has met its obligation, albeit at a later point of time. Is this right of contractual party unlimited in time or is it time-limited, in that it must be exercised before the defaulting party has met its obligation? Based on the analysis of relevant legal regulations and case-law it can be concluded that the entitled party (creditor) may exercise its right to withdraw from contract due to the other party (debtor) being in default on its obligation before such right becomes statute-barred, however, in any event, before the defaulted obligation is met. As soon as the defaulted obligation is met, the creditors right to withdraw from contract is discharged and extinguished. This is irrespective of whether the right to withdraw from contract is granted by a statute or agreed in a contract.
Publication Impact Profile
Publication details
References6
Svoboda, J., Čierna, A., Ficová, S., Fíger, J., Górász, L., Nárožný, N., Prochotský, F., Bajánková, J., Ružbarský, M., Švecová, D. Občiansky zákonník. Komentár a súvisiace predpisy (Civil Code. Commentary and the Related Statutory Regulations), Slovak Republic, 2005, p. 475.
Opinion of the Supreme Court of the Slovak Republic dated 20 October 1997, File No. Cpj 29/1997, published in the Collection of Judicial Decisions and Opinions under No. R 42/1997.
Decision of the Supreme Court of the Slovak Republic dated 7 July 1994, File No. 1 Cdo 42/1994, published in the Collection of Judicial Decisions and Opinions under No. R 22/1995
Fekete, I. Občiansky zákonník. Veľký komentár. 3. zväzok. Dedenie, Záväzkové právo – všeobecná časť. § 460 – 587 (Civil Code. Commentary. vol. III, Succession Law, Obligation Law – General Provisions. Section 460 – 587), Slovak Republic, 2015, p. 424
Decision of the Supreme Court of the Czech Republic dated 16 January 2007, File No. 30 Cdo 2047/2006, available at http://www.nsoud.cz
Decision of the Constitutional Court of the Slovak Republic dated 19 July 2017, File No. I. ÚS 350/2017, available at https://www.ustavnysud.sk
View or Download full articleAccess options
SWS access login
Login as SWS Scientific CommitteeLogin as SWS Scientific PartnerLogin as SWS AuthorAuthors and approved SWS contributors will read and export their own linked papers after identity matching by SWS profile, email and SGEM GlobalID.
For librarian assistance: [email protected]
Purchase Instant Access
- Article can be downloaded after successful payment.
- Article may be used according to SWS library access terms.
- Article cannot be redistributed.
