Tongzhou Construction General Contracting Group Co., Ltd. v. Inner Mongolia Xinghua Real Estate Co., Ltd. (Dispute over Construction Contract for Construction Engineering)—The Nature and Performance of the Offsetting Debt with Property Agreement upon Expiration of Debt Satisfaction Period
In determining the nature of the offsetting debt with property agreement upon the expiration of the debt satisfaction period, if it is not clearly specified, the offsetting debt with property agreement shall generally be regarded as a consensual new debt satisfaction agreement. When performing the agreement, the creditor should first exercise the right to claim for the fulfillment of new debt, and, if non-performance of the new debt when it becomes due renders the purpose of the offsetting debt with property agreement not fulfilled, the creditor has the right to request the debtor to continue to perform the old debt.
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