Legal Position of Debt Demand Date in Late Payment Damage

Abstract

Undoing each obligation, whether it is legal or contractual, is harmful, and the obligator is bound to compensate the loss by way of payment for damage. Delay in payment of monetary obligations is not out of this rule. The main question is, what date is the beginning of the calculation of late payment damages subject to Article 522 of the Civil Procedure Code? Date of main debt demand or date of the due date or date of bringing an action? Is there a way to compensate for damages or is it used to compensate for the decrease in the value of the banknote in monetary obligations? The result of this research is that the debt demand date for a monetary debt that has a due date, cannot be a criterion for starting the calculation of late payment damage, but the mentioned date (demand) is only for measuring the debtor’s financial ability. Because the debt demand time is used where the date of fulfillment of the obligation is not known or the object of obligation is one of the obligations on demand. Also, this article is not for paying damages, but only is a method to obtain compensation for the decrease in the value of the banknote in monetary debts.

Keywords

• monetary debt
• due date
• date of demand
• reduction of money value
• reduction of banknote value