An obligation is an obligation to perform an action aimed at the performance of work, transfer of property, payment for services in favor of another person. Moreover, in all business contracts of the Russian Federation, rights and obligations arise for both parties. The concept of fulfillment of obligations contains an action, the main purpose of which is the strict implementation of the terms of the business contract in accordance with all points (price, quality, delivery time, etc.).
Obligations can be simple and complex, personal and not, primary and secondary, property and non-property. Depending on the goals pursued and the tasks to be solved, they are divided into two subgroups. These are regulatory obligations and protective. The former are applied in ordinary simple contracts. Security obligations are aimed at eliminating possible violations in property circulation and their adverse effects. These are obligations for harm and unjustified enrichment.
The types of obligations in civil law differ primarily depending on their legal connection. A simple obligation arises from a bilateral loan agreement. When one side (the creditor) acquires the rights, and the other (the borrower) acquires the obligations. In such agreements there are rights and obligations of both parties.
A compound liability usually arises in tripartite business contracts. Moreover, the respective rights and obligations arise for three parties and are binding on them. Obligations are divided into personal and not. With those associated with a particular person, the death of the defendant terminates his obligation. In other cases, obligations under the right of succession pass to other persons - relatives. For example, the obligation to repay a loan goes to the children or other relatives of the deceased, but only in the amount of property that they inherit by law. There are also other obligations in favor of beneficiaries (third parties). An example of such property relationships are asset trust agreements. Obligations can be shared and joint.
Depending on the ultimate goal of the agreement, the obligations are divided into the following types: on transfer of any property into ownership or short-term and long-term use; to perform work or to provide various types of services; about joint activities.
Ways of securing obligations Also provided for in article 329 of the Civil Code. This is a guarantee, forfeit, guarantee and others. Which of the following types will be used is necessarily reflected in the contract. Moreover, their main task is to stimulate the debtor to the full fulfillment of all obligations assumed. Ways of securing obligations are applied to the debtor and enter into force in case of failure to fulfill its obligations under the contract or with inadequate quality of fulfillment of certain conditions of the bilateral agreement.
The penalty is paid by the debtor to the creditor in a certain amount of money according to the concluded agreement in addition to the principal amount of the existing debt. It is a guarantee of the obligations assumed by the debtor, but at the same time it shows the amount of remuneration for the lender in case of default by the borrower.
The pledge makes it possible to satisfy your requirements at the expense of the property of the pledgee. Collateral agreements as a subject may have property or a right of demand.
Despite all the available ways to ensure obligations, their timely implementation depends on various external and internal factors. And first of all, this is a property status. It may not always be stable. And if the borrower's business does not go very well and business projects are suddenly suspended for some reason, then in such cases he simply will not be able to pay off his main debt. And there is no need to talk about the forfeit at all. Therefore, a guarantee, as another guaranteed alternative in the form of securing obligations, is more attractive for businessmen.
All these methods of securing obligations differ significantly from each other in terms of their impact on the debtor and the measures taken to achieve their legal goal. Therefore, it is extremely important at the conclusion of the contract to choose the most optimal option for securing the contractual obligation, because the reliability of the execution of the contract as a whole will depend on this.