võlaõiguste

Võlaõiguste, a term originating from Estonian law, translates to "law of obligations." It encompasses the legal principles governing the creation, performance, and termination of legal relationships where one party (the debtor) is bound to perform a specific action for another party (the creditor). These obligations typically arise from contracts, torts, or unjust enrichment.

Contractual obligations are the most common type, stemming from agreements between two or more parties. These agreements create legally binding rights and duties. For example, a sales contract creates an obligation for the seller to deliver goods and for the buyer to pay the agreed price. The specific terms of the contract define the scope and nature of these obligations.

Beyond contracts, obligations can also arise from wrongful acts, known as torts or delicts. If one party's actions cause harm to another, the law may impose an obligation on the wrongdoer to compensate the injured party for their losses. This is the basis of civil liability in many legal systems.

Unjust enrichment occurs when one party benefits unfairly at the expense of another without a legal basis. In such cases, the law may create an obligation for the enriched party to return the benefit received or its value to the party who suffered the loss.

The law of obligations is a fundamental area of private law, regulating the interactions and transactions between individuals and entities, ensuring fairness and order in their dealings. It provides a framework for resolving disputes and enforcing commitments.