Prievolių vykdymo terminai ir jų pasibaigimo teisiniai padariniai ; Time-limits for the performance of obligations and legal effects of their extinction

Abstract

The article examines the meaning of the time-limits for the performance of obligations, their kinds, the ways of defining these time-limits and legal effects of their extinction. Also, it analyses the parties' choices as regards the remedies in the case of breaches of obligations with a term and, finally, the meaning of additional time-limits and the period of grace. The analysis is extensively supported by the case-law which assists in the disclosure of the issues related to the time-limits for the performance of obligations. Parties to legal relationships should combine possible remedies for the breach of obligations with a term more flexibly, without confining them to traditional ways of protecting rights by the ordinary civil procedure. Parties are encouraged to use the alternative ways of conflict resolution, such as the establishment of an additional period of time for the performance or the exercise of self-defense. If the time-limit for performance of an obligation is not established, the parties should request the court to fix the time-limit in a summary procedure. This should also be the direction in which the legislation should be improved.