DREPTUL CREDITORULUI DE A ALEGE REZOLUŢIUNEA ORI MENŢINEREA CONTRACTULUI ŞI LIMITELE ACESTUI DREPTT

Abstract

This study covers the legal position of the contractual party to whom a right of termination of the contract has accrued and who is now to make its election between terminating the contract or asserting and enforcing it against the other party. Under Moldovan law termination of contract does not occur automatically (unless the terms of the contract clearly mandate an automatic termination upon the occurrence of a certain event, such as a breach by a party), but rather the party entitled should declare the contract terminated. Once the right of termination has accrued (usually under restrictive conditions of the law) the entitled party is not bound by the observance of any hierarchy in the system of remedies. In spite of such right being purely discretionary, several legal limitations must be observed by the party entitled to terminate, such as whether it issued a Nachfrist to the breaching party; the entitled party is limited in time by a general requirement of exercising within a reasonable term, but not later than the expiration of the applicable statute of limitations etc.