Comparative Law Review

Comparative Law Review

Granting Additional Period for the Performance of the Contract by the Seller or Buyer (A Comparative Study in International Sale of Goods Convention, Vienna 1980 and Iranian Law)

Document Type : Research Paper

Authors
Fakhrodin Asghari Aghmashhadi 1
Hamid Abhari 2
Hamidreza Abbasimanesh 3
1 Assocaite Professor of University of Mazandaran (Corresponding Author) Mazandaran, Iran
2 Assocaite Professor of University of Mazandaran Mazandaran, Iran
3 Master of Private Law of University of Mazandaran Mazandaran, Iran
10.22059/jcl.2012.32102
Abstract
According to the International Sale of Goods Convention, where the seller does not deliver the goods or the buyer does not pay the price or does not take delivery of the goods, each of them is entitled to grant the other an additional period for performing its obligations. If the obligor does not perform his obligation within the deadline, the other party achieves the right of termination of the contract. In Iranian law, in the event of non-performance of the contract, the granting of additional period is possible unless in cases either the time is of the essence for performing the obligation, or the condition for immediate cancelation of the contract is inserted in the contract, or performing of the contract is impossible. But, achieving the right of termination or effectiveness of the condition of immediate cancelation depends on the acceptance of the other party.
Keywords
Granting Additional Period. Non-Performance of the Contract. Right of Termination. Goods. Price