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IMPUTATION OF PAYMENTS – LEGAL STATUS OF PAYMENT WAY OF SETTLEMENT OF THE LEGAL COMPULSORY RELATIONSHIP BETWEEN THE CONTRACTING PARTIES

Alexandru Bulearca ()
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Alexandru Bulearca: Athenaeum University, Bucharest, Romania

Internal Auditing and Risk Management, 2018, vol. 49, issue 1, 21-27

Abstract: It is generally recognized the expediency principle defining the commercial obligations. However, one can talk about this principle only where pecuniary liability debtor has got sufficient liquidity to cover all debts. However, to avoid paying penalties, in case the debtor of payment liability hasn’t got sufficient liquidity to cover the entire debt, it may agree with the creditor on which debts shall be settled by successive payments or, in the absence of a consensus, each of the parties to the legal compulsory relationship may establish - within certain limits – which debts shall be settled or the issue was left to the statutory provisions. So, the debtor of the payment liability has been made available a legal institution known in the doctrine as part of the legal forms of payment, by means of which it can extinguish the most expensive pecuniary obligations, as well as those interest-bearing liabilities or with collaterals, known as the imputation of payment. Thus, imputation of payment is subject to our analysis below.

Keywords: payment; imputation of payment; legal forms of payment; contract; creditor s imputation; debtor s imputation; legal imputation (search for similar items in EconPapers)
Date: 2018
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