The way debt is wiped out
The elimination of a debt is also prescribed by law, Article 557 of the Civil Code: the creditor’s right and debt shall be terminated under any of the following circumstances: (1) the debt has been performed;(2) mutual set-off of debts;(3) the obligor deposited the subject matter in escrow according to law;(4) release of debt by the creditor;(5) the rights and debts belong to the same person;(6) Other circumstances of termination prescribed by law or agreed upon by the parties.Where the contract is terminated, the rights and obligations under the contract terminate.The debt has been discharged.As the name implies, is the money paid, the debt performance after the end, then what is the performance of the way?The law did not stipulate means, say to perform only, that means is very much, if discount pay off, delay pay off, with content pay off debt, with share pay off debt, with labor force pay off debt, anyway all sorts of methods, want law not to prohibit only can arrive.There is no enforcement, only performance.This is the first one, which is paying back the money.The debts offset each other.In fact is the offset each other, but this special case, want to have a debt to offset each other, you don’t be deceived by some organizations in the society, is the premise of offset each other have a debt, and not all can, for example you owe the bank ten million, you never be offset, because Banks don’t owe you money, if you are in the bank loans, loans ten million,You have $10 million in the bank, and that can offset, of course, and it’s conditional, but the point is that a lot of people don’t offset it.The obligor deposited the subject matter in escrow according to law.For example, when signing a contract, the other party does not come to pick up the goods.What should I do if I don’t pay the money behind?I put the subject matter in the notary office to say that it has been performed;Or if you give someone money and they don’t want it, you go to the notary office and tell them I put my money in the notary office.Release of debt by creditor;Debts can be forgiven.You like the government often go to aid some African countries, is to forgive his debt.In effect, the disposal of banks’ bad assets is a debt waiver.Whether it is the disposal of bad assets by banks or the taxation of a country, it is a tool to regulate distribution.The creditor’s rights and debts belong to the same person.I’ve had this kind of customer here, and I’ve seen it online recently.A girl borrows from a middle-aged man, borrows from 100 thousand, borrows 1 million, borrows 2 million, borrows 3 million, 4 million, later does not return, this man asks for money to her, she has no, finally has no way, this woman marries this man.It’s like husband and wife. It’s confusing.It’s gone, it’s gone, including the merger of the two businesses.What if one business borrows a lot of money from another?What can I do if I don’t get it?A merger is confusion, unity, debt annihilation.Laws and regulations.This provision of the parties agreed to terminate the other circumstances can be, the termination information provided by the law, of course, the law stipulates the implementation of the first five, there is no sixth behind, there is a party agreed to terminate other circumstances, the parties can agree.Only fill the case that mandatory regulation of law can agree to terminate.So there are four sources of debt, five exports of debt and one more;The elimination of debt does not mean that we must borrow money to pay off debts. There are five ways to eliminate debt, and there is no need to have five ways. The key problem is the sixth way.Other circumstances under which termination is agreed upon by the parties.Want to do not violate law only mandatory regulation, it is ok.