Podcast
Questions and Answers
What is the fundamental condition for the extinction of debt?
What is the fundamental condition for the extinction of debt?
- Agreement with all creditors.
- Fulfillment by the contracting party. (correct)
- Declaration of insolvency by the debtor.
- Passage of a short period of time.
What is the critical distinction between a Kaufvertrag (purchase agreement) and a Werkvertrag (contract for work)?
What is the critical distinction between a Kaufvertrag (purchase agreement) and a Werkvertrag (contract for work)?
- A _Kaufvertrag_ involves an exchange of services, while a _Werkvertrag_ involves the transfer of ownership.
- A _Kaufvertrag_ is always short-term, while a _Werkvertrag_ is always long-term.
- There is no real distinction; the terms are interchangable.
- A _Kaufvertrag_ focuses on the transfer of an item, while a _Werkvertrag_ centers on achieving a specific result or work. (correct)
In the context of contract types, what characterizes a Dienstvertrag (service contract)?
In the context of contract types, what characterizes a Dienstvertrag (service contract)?
- Providing a loan in return for interest payments.
- Performing work in exchange for wages or salary. (correct)
- Delivering goods in exchange for payment.
- Renting an object for temporary use.
What is the purpose of Verjährung (statute of limitations) concerning debt?
What is the purpose of Verjährung (statute of limitations) concerning debt?
What distinguishes the short Verjährungsfrist from the long Verjährungsfrist?
What distinguishes the short Verjährungsfrist from the long Verjährungsfrist?
What is the general subject of a Mietvertrag (rental agreement)?
What is the general subject of a Mietvertrag (rental agreement)?
In which situation is a Versicherungsvertrag (insurance contract) typically used?
In which situation is a Versicherungsvertrag (insurance contract) typically used?
How does a Kreditvertrag (loan agreement) function?
How does a Kreditvertrag (loan agreement) function?
Why is Leasing used according to the text?
Why is Leasing used according to the text?
Mr. Bauer has an outstanding claim of 4.000€, but only learns about it three years later due to accounting errors. What is the legal consequence?
Mr. Bauer has an outstanding claim of 4.000€, but only learns about it three years later due to accounting errors. What is the legal consequence?
Flashcards
Fulfillment (Erlüllung)
Fulfillment (Erlüllung)
The debt is generally extinguished with fulfillment by the contractual partner.
Statute of Limitations (Verjährung)
Statute of Limitations (Verjährung)
A debt can also become statute-barred, meaning the loss of rights due to the passage of time.
Sales Contract (Kaufvertrag)
Sales Contract (Kaufvertrag)
Transfer of goods for an agreed purchase price.
Service Contract (Werkvertrag)
Service Contract (Werkvertrag)
Signup and view all the flashcards
Service Contract (Dienstvertrag)
Service Contract (Dienstvertrag)
Signup and view all the flashcards
Rental Agreement (Mietvertrag)
Rental Agreement (Mietvertrag)
Signup and view all the flashcards
Loan Agreement (Kreditvertrag)
Loan Agreement (Kreditvertrag)
Signup and view all the flashcards
Insurance Contract (Versicherungsvertrag)
Insurance Contract (Versicherungsvertrag)
Signup and view all the flashcards
Study Notes
- A debt basically expires when it is fulfilled by the contracting party.
Statute of Limitations
- A debt can also expire; this refers to the loss of rights over time.
- A distinction is made between a shorter limitation period of 3 years, such as for claims of daily life like holiday pay, and a longer limitation period of 30 years, such as for real estate purchases.
- Mr. Bauer has an outstanding claim of €4,000.
- Due to carelessness in the accounting, he only finds out about it three years later and there is a natural obligation, i.e., debts without liability.
- Mr. Bauer cannot enforce his claim in court.
Types of contract
- Purchase Contract: Exchange of goods for a purchase price. An example is car dealership Leitenthal buying 60 summer tires at €40.00 each.
- Contract for Work/Services: Involves service or a "work" for a wage. An example is Elektro Kobl repairing Mrs. Freiling's defective washing machine, costing €125.00.
- Service Contract (Employment Contract): Labor in exchange for wage/salary. Luise Kempmann works as a saleswoman and receives €1,050.00 per month from her employer.
- Rental Agreement: Granting use of an item for rent. Mr. Meier rents an apartment to a student for €700.00 per month.
- Loan Agreement: Transferring a certain amount of money for a fee (includes repayment). Ines Waldner takes out a loan of €20,000.00 from a bank to finance advertising for her new sports shop.
- Insurance Contract: Providing a specific service in the event of insurance. The TopSpin tennis club regularly pays a fire insurance premium, which covers property damage in case of a fire.
Purchase Contract versus Contract for Work/ Service
- A contract for work/services is not about the transfer of an item, but about achieving a result/performing specific work.
- This includes both physical works, such as the construction of a building, and non-physical works, such as organizing a trip or repairing a machine.
Lease Contract
- A lease contract is a special form of rental agreement.
- Lease agreements arose for tax and economic reasons.
- Leasing is mainly used as a form of financing.
- The lessee pays a leasing fee to the leasing company.
- Economically, leasing is a medium- to long-term loan where a rental payment is made instead of interest.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
