The article is devoted to the characteristics of the violation (non-performance or improper performance) of property and economic contractual obligation as a binding legal relationship arising from an agreement between legally equal economic entities.

The purpose of this article is to disclose the content of the concept of breach of contract, which in accordance with Art. 610 of the Civil Code of Ukraine, may manifest itself as nonperformance or improper performance of the economic contractual obligation, analysis of the grounds for such non-performance and legal consequences.

The article examines the legal ways to reduce (minimize) economically unfavorable consequences from breach of obligation. The article expresses the position on the inclusion of the risk of non-performance (improper performance) of property and economic contractual obligations by the counterparty in the “own risk” of a particular entrepreneur.

The conclusion is made about the direct relationship between economic losses from non-performance of property contractual obligations by its counterparty and the legal methods used by specific parties to the contractual obligation to reduce such economic losses. The legal possibilities (ways) of reduction (minimization) of losses from nonfulfillment of property and economic obligations are specified and classified in order to ensure the stability of economic turnover as a whole. The thesis that ensuring the stability of economic turnover (macro level) directly depends on the use of property and economic obligations of the subjects of ways to reduce (minimize) losses from non-performance of a specific contractual obligation (micro level).

Bibliography

Authored books

 1. Bodnar T, Dohovirni zobov’iazannia v tsyvilnomu pravi: (zahalni polozhennia): navchalnyi posibnyk (Iustinian 2007) (in Ukrainian).

2. Magaziner Ja, Sovetskoe hozjajstvennoe pravo (1928) (in Russian).

3. Mejer D, Russkoe grazhdanskoe pravo, ch 2 (Statut 1997) (in Russian).

4. Shcherbyna V, Hospodarske pravo: pidruchnyk (5-te vyd, pererob i dopov, Yurinkom Inter 2012) (in Ukrainian).

Edited books

5. Velykyi tlumachnyi slovnyk suchasnoi ukrainskoi movy (Busel V uklad i holov red, z dod i dopov, Perun 2005) (in Ukrainian).

6. Shcherbyna V, Rieznikova V (red), Hospodarske pravo (Zahalna chastyna): pidruchnyk (Lira-K 2021) (in Ukrainian).

Journal articles

7. Posner R, Rosenfield A, ‘Impossibility and Related Doctrines in Contract Law: An Economic Analysis’ (1977) 6 J Legal Stud 83 (in English).

8. Andreieva O, ‘Tsyvilno-pravova kharakterystyka ryzyku nemozhlyvosti vykonannia dohovirnoho zobov’iazannia: poniattia ta praktychne znachennia’ (2014) 5 Pidpryiemnytstvo, hospodarstvo i pravo 48 (in Ukrainian).

9. Rieznikova V, Stefanchuk R, ‘Otsinka ryzykiv u pidpryiemnytstvi ta upravlinnia nymy’ (2018) 5 Pravo Ukrainy 103 (in Ukrainian).

10. Sibilov M, ‘Dohovirne zobov’iazannia ta yoho vykonannia’ [2003] 2–3 (33–34) Visnyk Akademii pravovykh nauk Ukrainy 414 (in Ukrainian).

Theses

11. Andreieva O, ‘Ryzyk u dohovirnykh zobov’iazanniakh’ (dys kand yuryd nauk, 2015) 46–7 (in Ukrainian).

12. Sabodash R, ‘Strakhuvannia kredytnykh ryzykiv: tsyvilno-pravovi aspekty’ (dys kand yuryd nauk, 2007) 47–50 (in Ukrainian).

Websites

13. Beljanevich E, ‘Stabil’nost’ grazhdanskogo oborota: voprosy teorii i praktiki’ <https://online.zakon.kz/Document/?doc_id=31611826&pos=11;-41#pos=11> (accessed: 22.02.2022) (in Russian).