The Civil Code of the Russian Federation(with the Additions and Amendments of February 20, August 12, 1996,
October 24, 1997, July 8, December 17, 1999, April 16, May 15,
November 26, 2001, March 21, November 14, 26, 2002,
January 10, March 26, November 11, December 23, 2003)
Chapter 21. The Concept and the Aspects of an Obligation
Article 307. The Concept of an Obligation and the Grounds for It to Arise
1. By force of an obligation, one person (the debtor) shall be obliged to perform in favour of another person (the creditor) a certain action, such as: to transfer the property, to perform a job, to pay the money, etc., or to abstain from a certain action, while the creditor shall have the right to claim that the debtor discharge his obligation.
2. Obligations shall arise from an agreement, from the infliction of a damage, or on the other grounds, indicated in the present Code.
Article 308. The Parties to an Obligation
1. One or several persons simultaneously may take part in the obligation in the capacity of each of its parties. The invalidity of the creditor's claims against one of the persons, participating in the obligation on the side of the debtor, the same as the expiry of the term of the limitation of actions by the claim against such a person, shall not of themselves have a bearing on his claims against the rest of these persons.
2. If each of the parties by the contract shall bear a duty in favour of the other party, it shall be regarded as the debtor of the other party by what it is obliged to do in its favour, and simultaneously as its creditor by what it has the right to claim from it.
3. The obligation shall not create the duties for the persons, who do not participate in it in the capacity of the parties (for the third persons). In the cases, stipulated by the law, by the other legal acts or by an agreement between the parties, the obligation may create for the third persons the rights with respect to one or to both parties of the obligation.
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