@@ Article 24. Contracts which are established according to laws
shall have legal binding force. The parties shall strictly abide by
the contracts and fully perform the obligations. Any party shall not
alter or terminate the contracts without authorization.
CHAPTER III LIABILITIES FOR BREACH OF CONTRACTS
@@ Article 25. If either party to a contract fulfils, in part or in
whole, his obligations while the other party fails to fulfil, in part
or in whole, his obligations, the former may temporarily
suspend performing his obligations, have a lien on the latter's
property processed and reserved by the former during the performance
and lodge a claim for compensation.
After the party who fails to fulfil obligations has provided
guarantee to perform the obligations, the other party who has fulfiled
obligations shall immediately carry out his own obligations.
@@ Article 26. If one party fails to perform his contract
obligations by his errors, hence causes losses to the other party, he
shall compensate the other party for the losses incurred. The other
party may request the party that fails to perform his contract
obligations to continue performance
accordingly.
@@ Article 27. In case either party to a contract is composed of
two or more participants, they shall jointly enjoy the contract rights
and jointly undertake the contract obligations. Any participant in one
party shall have the right to demand the other party to carry out, in
part or in whole, the obligations. In the event one of the
participants of either party accepts the obligations performed, in
part or in whole, by the other party the other participants' right
to claim shall be partially or wholly terminated. If any participant
in the same party shall fulfil all the obligations and undertake all
the liabilities for breach of contract.
@@ Article 28. In case the guaranteed fails to perform his
contract obligations, the guarantor shall assume responsibility
for breach of contract, or shall perform the obligations in place
of the guaranteed in accordance with the provisions of the contract.
@@ Article 29. In case one party pays cash deposit or earnest money
to the other party, the cash deposit or earnest money shall be
refunded after the implementation of the contract or it shall be used
for payment of the costs of the contracted items and the expenses
involved.
If the guarantor who has paid cash deposit or earnest money
fails to implement the contract, that party shall have no right to
claim a refund. If the party who has received the cash deposit or
earnest money fails to implement the contract, that party shall be
held responsible for making a refund equivalent to twice the amount of
the cash deposit or earnest money.
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