Financial

If you have transferred money to an incorrect account number, the recipient is in principle obliged to repay it: this constitutes an undue payment (Article 6:203 of the Dutch Civil Code). Works...

With a suretyship agreement, a third party provides the creditor with additional security: if the debtor is unable to pay, the creditor calls upon the guarantor. It is a widely used instrument, for example when...

If the work for which you have hired personnel ceases due to exceptional circumstances, the question arises as to who bears the costs. In the case of a hiring or temporary employment agreement, this depends heavily on...

The payment reminder is the first step of the collection process. For consumers, a proper reminder — the so-called fourteen-day letter — is even legally required before you may charge collection costs....

With a tiered notice of default, you prevent unnecessary delays if a (sub)contractor delivers defective work. You first give the counterparty a short period to declare that they will rectify the situation, and...

In the event of bankruptcy, the judge appoints a trustee who liquidates the estate and pays the creditors in a statutory order of priority. Suppliers (unsecured creditors) are at the back of the queue and receive...

The right of summary execution gives a pledgee (or mortgagee) the power to sell the pledged asset without a court judgment and without seizure, and to...

A payment reminder, demand letter, summons, and notice of default are not synonyms, although they are often used interchangeably. Roughly speaking, it ranges from a friendly reminder to an urgent demand letter, to a summons (final demand letter...

In an asset and liability agreement, you acquire individual components of a business — such as customers, inventory, assets, and intellectual property (assets) and specific debts (liabilities) — instead of the entire...

If your debtor rejects an inheritance to keep it out of your reach, you do not have to accept this. You can ask the court to...