Private Law Research

Legal Position of Debt Demand Date in Late Payment Damage

Document Type : Research Paper

Author

Fereidoon Nahreini

Associate Professor in Faculty of Law and Political Science, University of Tehran

https://doi.org/10.22054/jplr.2023.69574.2707
Abstract
Undoing each obligation, whether it is legal or contractual, is harmful, and the obligator is bound to compensate the loss by way of payment for damage. Delay in payment of monetary obligations is not out of this rule. The main question is, what date is the beginning of the calculation of late payment damages subject to Article 522 of the Civil Procedure Code? Date of main debt demand or date of the due date or date of bringing an action? Is there a way to compensate for damages or is it used to compensate for the decrease in the value of the banknote in monetary obligations? The result of this research is that the debt demand date for a monetary debt that has a due date, cannot be a criterion for starting the calculation of late payment damage, but the mentioned date (demand) is only for measuring the debtor’s financial ability. Because the debt demand time is used where the date of fulfillment of the obligation is not known or the object of obligation is one of the obligations on demand. Also, this article is not for paying damages, but only is a method to obtain compensation for the decrease in the value of the banknote in monetary debts.

Keywords

Monetary debt
Due date
date of demand
Reduction of money value
Reduction of banknote value
Subjects
Garner - Bryan A, Black’s Law Dictionary, West Thomson Reuters, USA, Ninth edition, 2009.
Gifis - Steven H, Law Dictionary, Barron’s Legal Guides, Seventh edition, 2016, USA.
Kay - RT Hon SIR Maurice and Stuart Sime and Derek French, Blackstone’s Civil Practice, Oxford, Fifteenth Edition, 2015.
 
Private Law Research
Volume 11, Issue 42
Winter 2023
Pages 9-40

Article View 16,372
PDF Download 2,253

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