What is debt?
debt is a specific relationship of rights and obligations between the parties in accordance with the contract or the law. The person who enjoys the rights is the creditor and the person who has the obligations is the debtor.
what are the rights and obligations of creditors and debtors?
the creditor has the right to require the debtor to perform its obligations in accordance with the contract or the law. Where there are two or more creditors, they shall share the rights according to the determined share. If there are more than two debtors, they shall share the obligations according to the determined share.
the debt should be paid off. If it is temporarily unable to repay, it may be repaid by the debtor in installments with the consent of the creditor or the ruling of the people's court. Those who have the ability to repay and refuse to repay shall be forced to repay by the people's court.
if the agreement in the contract is unclear and the parties cannot reach an agreement through consultation, how should it be determined?
if the quality, time limit, place or price stipulated in the contract are not clear, and cannot be determined according to the relevant terms of the contract, and the parties cannot reach an agreement through consultation, the following provisions shall apply:
(1) If the quality requirements are not clear, they shall be implemented according to the national quality standards; if there is no national quality standards, they shall be implemented according to the usual standards.
(2) If the time limit for performance is unclear, the debtor may perform its obligations to the creditor at any time, and the creditor may also request the debtor to perform its obligations at any time, but the other party shall be given necessary preparation time.
(3) where the place of performance is unclear, if the payment is made in currency, it shall be performed at the place where the party receiving the payment is located, and other targets shall be performed at the place where the party performing the obligation is located.
(4) if the price agreement is unclear, it shall be performed at the price stipulated by the state; If there is no price stipulated by the state, it shall be performed with reference to the market price or the price of similar goods or the remuneration standard of similar services.
if the right to apply for a patent is not stipulated in the contract, the party who has completed the invention-creation shall have the right to apply.
if there is no agreement on the right to use scientific and technological achievements in the contract, all parties have the right to use them.
how to perform the secured debt?
In accordance with the provisions of the law or the agreement of the parties, the performance of the debt can be guaranteed in the following ways:
(1) The guarantor guarantees the creditor that the debtor will perform the debt, and if the debtor fails to perform the debt, the guarantor will perform or bear joint and several liabilities according to the agreement; The guarantor has the right to recover from the debtor after performing the debt.
(2) The debtor or a third party may provide certain property as collateral. If the debtor fails to perform the debt, the creditor has the right to discount the mortgaged property or give priority to repayment with the price of selling the mortgaged property in accordance with the law.
(3) One party may pay the deposit to the other party within the scope prescribed by law. After the debtor performs the debt, the deposit shall be used as the price or recovered. If the party paying the deposit fails to perform the debt, it has no right to demand the return of the deposit; If the party accepting the deposit fails to perform the debt, it shall return the deposit twice.
(4) If one party occupies the other party's property according to the contract, and the other party fails to pay the payable amount in accordance with the contract beyond the agreed time limit, the possessor has the right to retain the property, and the retained property shall be discounted according to the law, or the payment from the sale of the property shall be given priority.