Specific features of the protection of rights and interests of the creditor in case of breach of monetary obligation with a foreign currency equivalent

Abstract

In the course of the research the normative-legal analysis was carried out and a number of general theoretical and practical problems of the national legislation of Ukraine on protection of the rights and interests of the creditor in case of breach of monetary obligation with a foreign currency equivalent were identified. The purpose of the research is to analyze the general theoretical and practical problems of the national legislation of Ukraine regarding the protection of the rights and interests of the creditor in case of breach of monetary obligation with a foreign currency equivalent. The right to protect one’s rights and interests is the basis of civil law and the guarantee of the proper performance of contractual obligations. Non-fulfillment or improper fulfillment of contractual obligations are the causes of disputes in the field of civil law. This scientific article examines some ways to protect the rights and interests of the creditor in case of breach of monetary obligations in foreign currency. The advantages and disadvantages of such methods are analyzed.The study established the lack of a legally defined procedure for accrual of penalty in a monetary obligation with a foreign currency equivalent and proposed to improve the law on protection of the rights and interests of the creditor in case of breach of a monetary obligation with a foreign currency equivalent. The use of foreign currency in monetary obligations will be used more and more frequently by the parties, which makes it necessary to regulate the use of foreign currency in monetary obligations. The results of the study can be used in lawmaking and law enforcement activities in the implementation of the creditor’s protection of their rights and interests in case of breach of monetary obligations with a foreign currency equivalent.