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Civil law. Part II. Rights and obligations of the parties under the loan agreement. Termination of the contract (most important)

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41. RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THE LOAN AGREEMENT. TERMINATION OF THE CONTRACT

Borrower's obligations: transfer the thing to the borrower without defects, and in the event that they exist, stipulate them; warn the borrower about the rights of third parties to the thing transferred to him; provide the thing in a condition that meets the terms of the contract and its purpose; provide the transferred item with accessories and related documents.

Lender's rights: to replace the thing handed over to the borrower if the latter requires the elimination of defects in it; require the borrower to return the thing after the termination of the loan agreement.

Obligations of the borrower: use the thing in accordance with the terms of the contract or the purpose of the thing; maintain the thing received under the contract in good condition, including carrying out current and major repairs; bear the cost of maintaining the thing received under the contract; not transfer the received thing to third parties without the consent of the lender; return the item received in the same condition, subject to normal wear and tear, or in the condition stipulated by the contract.

Borrower's rights: demand from the lender the accessories to the thing and the documents relating to it that he has not submitted; in case of non-transfer of the subject of the contract by the lender, demand termination of the contract and compensation for actual damage; demand from the lender reimbursement of his expenses for the elimination of defects in the thing transferred to him or their removal free of charge if the lender bears responsibility for these shortcomings, or early termination of the contract and real damage suffered by him.

Grounds for terminating a loan agreement:

▪ expiration of the contract;

▪ termination of the borrower (death of a citizen-borrower or liquidation of a legal entity - borrower) unless otherwise provided by the agreement;

▪ unilateral refusal of a contract concluded without specifying a period (for this, the refusing party must notify the other party of this one month in advance, unless the contract provides for a different notice period).

Grounds for early termination of the contract by the lender:

▪ use by the borrower of the thing not in accordance with the agreement or its purpose;

▪ failure of the borrower to fulfill the obligation to maintain the item in good condition or the obligation to maintain it;

▪ significant deterioration in the condition of the item;

▪ transfer of an item by the lender to a third party without the consent of the lender.

Grounds for early termination of the contract by the borrower:

▪ discovery of defects in a thing that make its use impossible if he did not know about them at the time of concluding the contract;

▪ the item received under the contract turned out to be unsuitable for its intended use;

▪ when transferring the thing, the lender did not warn him about the rights of third parties to it;

▪ when transferring the thing, the lender did not transfer the accessories and documents related to it.

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