Supreme Court: procedure for calculating and term of termination of accrual of 3 percent per annum on the loan amount
On January 24! 2024! the Supreme Court! as part of the telegram data panel of Accrual period judges of the First Judicial Chamber of the Civil Court of Cassation! in case No. 465/3928/17! proceedings No. 61-15498 st. 23 (RSRU No. 116541678)! examin the issue of the procedure for calculating and the term for terminating the accrual of 3 percent per annum on the loan amount.
In accordance with Part One of Article 1049 of the Civil Code of Ukraine
The borrower is oblig to return the loan to the lender (cash in the same amount or things determin by generic characteristics! in the same quantity! of the same kind and of the same quality that were transferr to him by the lender) within the period and in the manner establish by the contract.
If the contract Accrual period does not establish a loan repayment period or this period is determin by the moment of presentation of the claim! the loan must be returned by the borrower within thirty days from the date of presentation of the claim by the lender! unless otherwise establish by the contract.
According to the provision of the first sentence of part one what to consider before implementing of Article 1050! which was recogniz as complying with the Constitution of Ukraine (is constitutional)! in accordance with the Decision of the Constitutional Court No. 6-р(II)/2022 of June 22! 2022! if the borrower has not returned the loan amount in a timely manner! he is obliged to pay the amount of money in accordance with Article 625 of this Code .
Article 625 of the Civil Code of Ukraine establishes liability for breach of a monetary obligation
Article 625 of the Civil Code of Ukraine defines the general rules of liability for au emai list violation of any monetary obligation. That is! the effect of this article applies to all types of monetary obligations! unless otherwise provided by the contract or special provisions of the law regulating certain types of obligations (see the resolution of the Grand Chamber of the Supreme Court of March 28! 2018 in case No. 758/1303/15-ts).
