Provisions of Civil Code on Creditor's Rights and Debts

The provisions on creditor's rights and debts in the Civil Code refer to standardizing and institutionalizing all kinds of creditor's rights and debts, establishing the principle of freedom of contract and realizing fair and orderly economic operation. Including the generation, transfer and termination of creditor's rights and debts, in order to protect the legitimate rights and interests of the parties.

Creditor's rights and debts are one of the core contents of the civil code, which mainly involves the property relationship between the parties and is an indispensable part of modern market economic activities. According to the provisions of the Civil Code, the creditor-debtor relationship should follow the principle of freedom of contract, that is, the parties can establish the creditor-debtor relationship through voluntary agreement and stipulate the corresponding rights and obligations. At the same time, the Civil Code clearly stipulates that the parties should perform the contract in good faith, and fraud and malicious breach of contract are strictly prohibited. In addition, the civil code also stipulates the transfer and termination of the relationship between creditor's rights and debts. Among them, the transfer of creditor's rights includes assignment and pledge, while the transfer of debt mainly refers to debt inheritance and debt transfer. There are two main ways to terminate creditor's rights: liquidation and exemption. The ways of debt termination mainly include performance, compulsory execution and agreement termination. Generally speaking, the provisions on creditor's rights and debts in the Civil Code are mainly aimed at protecting the legitimate rights and interests of the parties, establishing a just, fair and orderly market economic order and promoting the economic development of the whole society.

What measures can creditors take when collecting debts? In debt collection, creditors can take various measures such as consultation with debtors, prosecution and application for enforcement. Among them, prosecution is a common way, that is, to recover debts by filing a lawsuit with the court. At the same time, creditors can also apply for measures such as sealing up, freezing and detaining the debtor's property according to law to speed up the repayment of debts.

The provisions of the Civil Code on creditor's rights and debts are an indispensable part of modern market economic activities, which is of great significance for establishing a just, fair and orderly market economic order. Therefore, the parties should strengthen their legal awareness and risk prevention ability in accordance with the law and safeguard their legitimate rights and interests when conducting various property relations transactions.

Legal basis:

According to Article 328 of the Civil Code of People's Republic of China (PRC), the creditor's right is the right that the debtor should pay due to certain actions or omissions in the creditor's property relationship. And debt includes specific performance obligations and other obligations.