THE NEW LEGISLATIVE APPROACH IN MATTERS OF RESOLUTION CONTRACTS
THE NEW LEGISLATIVE APPROACH IN MATTERS OF RESOLUTION CONTRACTS

Summary/Abstract: Regulating termination unilaterally encouraged economic context in order to facilitate dynamic economic exchanges, so as to protect both the rights of creditors who may come more swiftly from a contract unworkable and rights of the debtor, because the declaration termination is subject to an obligation essential failure. Following the traditional doctrine, the old Civil Code outlines termination as an extraordinary event that was pronounced by the court, operating as a penalty for the debtor who has performed the obligation. The new civil code adopted a major change of perspective on termination legislature, recognizing the possibility to declare unilaterally terminate the contractual clauses and covenants Introduce lex commissioria or lack thereof. Unilateral termination and termination clause were innovative in the current legislation, which gives a short further discussion in doctrine. In other systems of law which governs the unilateral termination, covenants lex commissioria no longer are justified when the creditor is given the opportunity to defiinţa contract by law. If the creditor's right of option on the remedies available to it in case of failure, even assuming the existence of a unilateral termination pact shall be required manifestation of will which activates termination clause.

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