What is the debtor?
is obliged someone who is obliged to do something according to the terms of the contract. The contract is written in favor of the obliged person, a person who will benefit from an action on the debtor or inaction, depending on the terms of the contract. It is possible that several people will be common obligations or obligations, and companies can also become debtors under a contract. Since the contracts are structured in favor of the obliged person, debtors would well explore the terms of any contracts they sign and ask the lawyer for assistance if they have difficulty understanding the language or specifics of the contract. However, they cannot be obliged to do something other than repaying the debt. The contract may specify that the debtor is expected to perform a specific task or delay the involvement in a specific activity. For example, when some of them sign a clause without competition after leaving the company is contractually obliged to delay the establishment of a competing company.
In the contractual law, unless the debtor fails to fulfill the terms of the contract, there will be legal sanctions and the obliged person may be entitled to sue to obtain damages or to force the obliged person to comply with the contract. Duties are not completely out of the hook; The contract may include provisions specifying specific activities on their part and can be punished for failure. For example, in a child's custody agreement, one parent may become a debtor who must pay a child's nutrition, but the obliged person may also be obliged to share custody or provide a visit to the debtor.
When creating a contract, it may include conditions specifically dealing with the debtor's circumstances. For example, someone with poor rating may be charged higher ratsae, or it is necessary to maintain funds in the depository account to cover the debt. On the contrary, the contract may include warnings to cover unexpected circumstances such as sudden unemployment that would make it difficult for someone to repay debt.
Many people find themselvesIn unpleasant legal situations, because they cannot read contracts, or because they read through contracts but do not understand them. In many countries, people are entitled to take the time to read the contract and ask a lawyer to check and explain it. People can also apply for changes to contracts that they consider disproportionate. The insertion should use these rights to ensure that they do not sign into unpleasant circumstances.