Where the contract is concluded for an indefinite period, either party may terminate it at any time, subject to compliance with the contractual notice period or, failing this, a reasonable period.
Where the contract is concluded for a fixed term, each party must perform it until its term. No one may require renewal of the contract.
The contract may be extended if the contracting parties so wish before it expires. The extension may not prejudice the rights of third parties.
A fixed-term contract may be renewed by operation of law or by agreement of the parties. Renewal gives rise to a new contract whose content is identical to the previous one but whose duration is indefinite.
When, on expiry of the term of a fixed-term contract, the contracting parties continue to perform their obligations under the contract, the contract is tacitly renewed. This has the same effect as renewal of the contract.
A contracting party, the assignor, may assign his status as a party to the contract to a third party, the assignee, with the agreement of his co-contracting party, the assignee. This agreement may be given in advance, in particular in the contract concluded between the future assignor and assignee, in which case the assignment takes effect with regard to the assignee when the contract concluded between the assignor and assignee…
If the assigned party has expressly consented, the assignment of the contract releases the assignor for the future. Failing this, and unless otherwise agreed, the assignor is jointly and severally liable to perform the contract.
The assignee may set up against the assignee the defences inherent in the debt, such as nullity, the defence of non-performance, rescission or set-off of related debts. The assignee may not raise against the assignee any defences personal to the assignor. The assignee may raise against the assignee any defences that he could have raised against the assignor.
If the assignor is not discharged by the assignee, any security interests that may have been granted survive. Otherwise, security interests granted by the assignor or by third parties only survive with their agreement. If the assignor is discharged, his joint and several co-debtors remain liable after deducting their share of the debt.
The party to whom the undertaking has not been performed, or has been performed imperfectly, may: – refuse to perform or suspend the performance of his own obligation; – pursue the forced performance in kind of the obligation; – obtain a reduction in the price; – bring about the rescission of the contract; – claim compensation for the consequences of the non-performance. Sanctions that are not incompatible may be combined;…
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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