Damage due to a price change can occur due to a delay in the performance of a monetary obligation established by the contract, i.e. the termination of the contract or due to a delay in the performance of an obligation determined by a legally binding decision. It can only be realised in the manner and under the conditions prescribed by the special provisions of the Law of Contract and Torts.
Compensation for damages due to a delay in the execution of a monetary obligation
In case of late payment of the contractually established monetary obligation, the debtor owes the creditor, in addition to the principal, default interest.
The creditor shall be entitled to default interest regardless of whether he has suffered any damage due to the debtor’s delay, as prescribed by the imperative provisions of Article 278, paragraph 1 of the Law of Contract and Torts.
Suppose the damage suffered by the creditor due to the debtor’s delay in the performance of the monetary obligation constituted by the contract is greater than the amount he would have received in the name of default interest. Continue reading Compensation for damage due to price change