velkasuhde

Velkasuhde, literally “debt relationship,” is a civil-law relationship in which one party (the debtor) is obligated to perform to another party (the creditor). The obligation typically concerns the payment of money or the delivery of goods or services, but it can also cover other performance promised in a contract or mandated by law. Velkasuhteen on muodostavat velallinen ja velkoja, ja sen ensisijainen tarkoitus on määritellä, what must be done, by whom, and by when.

Velkasuhde can arise from a contract (for example a loan, sale on credit, or service agreement), from quasi-contracts (where the law imposes an obligation to prevent injustice), or from statutory obligations (such as damages or penalties prescribed by law). The essential contents are the debtor’s obligation to perform and the creditor’s right to demand performance. The agreement or rule may also set terms such as the amount, payment schedule, interest, late payment charges, and other conditions.

Breach and remedies are central to velkasuhde. If the debtor fails to perform, the creditor may demand fulfillment, seek damages, or terminate the contract. The debtor may face consequences such as late interest (viivästyskorko) and, in some cases, enforcement actions or collateral realization. Velkasuhteet can include guarantees or collateral (vakuudet) and, in some cases, the right of set-off or assignment.

In Finnish law, velkasuhde is governed by the general law of obligations (velvoiteoikeus) and by contract terms. It is a fundamental concept for commerce, consumer credit, and everyday financial interactions, providing a framework for orderly performance and dispute resolution between creditors and debtors.