võlasuhteid

Võlasuhteid are civil-law relationships that arise when one party has an obligation to perform for another, most commonly involving payment, delivery of goods, or provision of services. In Estonia these relations are governed by the Law of Obligations Act (võlaõigusseadus) and other civil-law norms. Võlasuhteid cover contractual obligations, such as loans, sales, and service agreements, as well as non-contractual obligations resulting from delicts (liability for unlawful acts) or quasi-contracts. The primary participants are the debtor (võlgnik), the creditor (võlausaldaja), and, where relevant, co-debtors, guarantors, or persons providing security.

Content and formation:

An obligation imposes a duty to perform and a corresponding right for the other party. The performance may be monetary (payment of money), delivery of a thing, or furnishing a service. Obligations can be contractual, arising from a contract, or non-contractual, arising from acts that create liability, or from other legal rules. A valid võlasuhis generally requires legal capacity and a lawful basis; some contracts must meet formal requirements, such as being written. Performance must be timely and proper; breach or improper performance gives rise to remedies for the injured party.

Breach, remedies and termination:

If the obligation is not fulfilled or fulfilled inadequately, the liable party may owe damages, interest on late payment, or be required to perform or rectify the breach. Contracts may be terminated or amended under agreed terms or by law. Claims may be assigned or novated in certain situations. Prescription limits the period for bringing a claim. Security arrangements such as guarantees, pledges, or mortgages are commonly used to ensure performance in võlasuhteid. Cross-border võlasuhteid are guided by applicable law and international civil-law rules where relevant.