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The predetermined period refers to the time when the parties can exercise certain rights. During this period, if the parties do not exercise their rights, then after the expiration of this period, the parties can no longer exercise their corresponding rights. How many years is the scheduled period of cancellation right? Bian Xiao will answer this question for you.
First, the scheduled time limit for the cancellation right
The right of revocation shall be exercised within 1 year from the date when the creditor knows or should know the reason for revocation. If the debtor fails to exercise its cancellation right within 5 years from the date of the debtor's behavior, the cancellation right shall be extinguished.
Five years is the objective starting standard, and 1 year is the subjective starting standard.
That is, it takes four and a half years to know that there are revocable reasons, so it can only be exercised within six months.
Second, the conditions for exercising the right of cancellation.
According to Articles 74 and 75 of China's Contract Law and the Interpretation of Contract Law, the creditor shall meet the following conditions when exercising its cancellation right:
1. The debtor has objectively harmed the creditor's rights. The act of damaging the creditor's rights refers to the act that will lead to the decrease of the debtor's property or the increase of the burden, thus hindering the realization of the creditor's rights. According to Article 74 (1) of China's Contract Law, this behavior includes the debtor giving up its due creditor's rights, or transferring the property for free, or transferring the property at an obviously unreasonable low price, thus causing damage to the creditor.
2. The debtor's behavior is based on property. For an act that is not restricted by property, the creditor has no right to cancel it because it has nothing to do with the preservation of the debtor's property. For example, in the third paragraph of Article 244 of the Civil Law in Taiwan Province, China, the creditor's right of cancellation does not apply to the debtor's behavior that is not based on property or only impairs the creditor's rights of a specific object.
3. When the debtor pays, the creditor's right of cancellation is conditional on the malice of the beneficiary. The malice of the beneficiary means that the beneficiary knows that the debtor's behavior is harmful to the creditor's rights when he benefits. For example, the second paragraph of Article 244 of the Civil Law in Taiwan Province, China stipulates that if the debtor's paid behavior is known to be harmful to the creditor's rights at the time of the behavior, and the beneficiary knows the situation when he benefits, the creditor may request the court to revoke it. our country