BIZCHINA / Company laws
Contract Law of the People's Republic of China
Updated: 2006-04-17 10:00
Article 64 Where the parties agree that the obligor performs the
obligations to a third party, and the obligor fails to perform the
obligations to the third party or the performance does not meet the terms
of the contract, the obligor shall be liable to the obligee for the
breach of contract.
Article 65 Where the parties agree that a third party performs the
obligations to the obligee, and the third party fails to perform the
obligations or the performance does not meet the terms of the contract,
the obligor shall be liable to the obligee for the breach of contract.
Article 66 If both parties have obligations toward each other and there
is no order of priority in respect of the performance of obligation, the
parties shall perform the obligations simultaneously. One party has the
right reject the other party's request for performance if the other
party's performance. One party has the right to reject the other party's
corresponding request for performance if the other party's performance
does not meet the perms of the contract.
Article 67 Where both parties have obligations towards each other and
there has been an order of priority in respect of the performance, and
the party which shall render its performance first has not rendered the
performance, the party which may render its performance lately has the
right to reject the other party's request for performance. Where the
party which shall render its performance first violates the terms of a
contract while fulfilling the obligations, the party which may render its
performance lately has the right to reject the other party's
corresponding request for performance.
Article 68 One party, which shall render its performance first, may
suspend its performance, if it has conclusive evidence that the other
party is under any of the following circumstances:
(1) Its business conditions are seriously deteriorating;
(2) It moves away its property and takes out its capital secretly to
evade debt;
(3) It loses its commercial credibility;
(4) Other circumstances showing that it loses or is possible to lose the
capacity of credit.
Where a party suspends performance of a contract without conclusive
evidence, it shall be liable for the breach of contract.
Article 69 One party to a contract which suspends its performance of the
contract in accordance with the provisions of Article 68 of this Law,
shall promptly inform the other party of such suspension. It shall resume
its performance of the contract when the other party provides a sure
guarantee. After the suspension of the performance, if the other party
does not reinstate its capacity of performance and does not provide with
a sure guarantee, the party suspending performance of the contract may
rescind the contract.
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