Private Law
Hassan Johari
Abstract
In some contracts, to guarantee the obligations fulfillment and compensate for damages caused by delay or their non-fulfillment, the parties stipulate an amount to be paid as obligation to another party in case of breach by the obligee. This amount is called “commitment”. One of the most ...
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In some contracts, to guarantee the obligations fulfillment and compensate for damages caused by delay or their non-fulfillment, the parties stipulate an amount to be paid as obligation to another party in case of breach by the obligee. This amount is called “commitment”. One of the most common kinds of obligations is time-based incremental obligation. The significant point to ponder about this type of obligation is its time of suspension and restriction or non-restriction to the amount of original obligation. It is noteworthy that if the obligation is a fine for the obligation breach and a type of civil punishment intended for violation or obligation is to compensate damages caused to the obligor due to the obligation breach. To express the obligation significance in the current economic situation of the country, it will suffice with this point. In most contracts concluded between the parties of the contracts, they accept and agree on the obligation during the contractual conclusion
