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

Authors

  • Chief Assist. Prof. Dr Zlatka Vangelova Department of Private Legal Studies, Faculty of Law, UNWE Author

Keywords:

Back out of a contract, Earnest money, Liquidated damages, Maturity date, Default
K22

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.

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Published

2021-10-04

Issue

No. 4 (2021)

Section

Articles

License

Copyright (c) 2021 Zlatka Vangelova (Author)

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Authors retain copyright to their works.

All publications are distributed under the terms of the Creative Commons Attribution 4.0 International (CC BY 4.0) license.

How to Cite

Vangelova, Z. (2021). About the Term “Commenced Performance” (Used in Art. 308 of the Commerce Act) Regulating the Earnest Money Institute. Research Papers, 4, 231-238. https://yb.e-dnrs.org/index.php/rp/article/view/5270