The beneficiary is vested with a direct right to the benefit against the promisor as soon as the stipulation is made. Nevertheless the stipulator may freely revoke the stipulation as long as the beneficiary has not accepted it. The stipulation becomes irrevocable when acceptance reaches the stipulator or the promisor.
The revocation can only be made by the stipulator or, after his death, by his heirs. The latter may only do so after the expiry of a period of three months from the day on which they gave the beneficiary formal notice to accept it. If it is not accompanied by the designation of a new beneficiary, the revocation benefits, as the case may be, the stipulator or his heirs….
Acceptance may come from the beneficiary or, after his or her death, from his or her heirs. It may be express or tacit. It may occur even after the death of the stipulator or promisor.
The stipulator may himself require the promisor to fulfil his commitment to the beneficiary.
Perpetual commitments are prohibited. Each contracting party may terminate them under the conditions laid down for open-ended contracts.
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.
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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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