About the Term “Commenced Performance” (Used in Art. 308 of the Commerce Act) Regulating the Earnest Money Institute Cover Image

За понятието „започнало изпълнение“ при отметнината (чл. 308 от Търговския закон)
About the Term “Commenced Performance” (Used in Art. 308 of the Commerce Act) Regulating the Earnest Money Institute

Author(s): Zlatka Vangelova
Subject(s): Law, Constitution, Jurisprudence, Administrative Law
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: back out of a contract; earnest money; liquidated damages; maturity date; default

Summary/Abstract: The legal literature does not interpret uniformly the final moment when a party of a contract may back out of it. Under one of the expressed opinions this is the moment of commencement of the factual performance, while, under the second opinion, this is the maturity date of the obligation for performance of any of the parties in the contract. The second opinion is supported in this report and arguments are presented in its favour.

  • Issue Year: 2021
  • Issue No: 4
  • Page Range: 231-238
  • Page Count: 8
  • Language: Bulgarian
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