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Being a common financial payment instrument in the relations between professionals, promissory notes in Romania play an important role in discharging from the contractual obligation arising from the contract concluded between the two parties, with the purpose of guaranteeing the payment obligations in Romania. The biggest advantage of the promissory note in Romania is the quality of enforceable title in Romania. Thus, if the payment obligation in Romania is not respected on the basis of the promissory note in Romania at maturity, the creditor is entitled to request directly the enforcement in Romania. Law no. 58/1934 also provides the way in which the cancellation of the promissory note in Romania and appealing against enforcement in Romania can be obtained. The Romanian Law Firm Pavel, Mărgărit and Associates recommends contacting a lawyer specialized in commercial disputes, cancelling promissory notes and appealing against enforcement in Romania who can guide you in the procedure of cancelling promissory notes in Romania and appealing against enforcement in Romania.
According to Law no. 58/1934, if the payment obligation in Romania is not enforced at maturity, the judicial executor in Romania will communicate to the debtor a demand for payment letter in Romania by which he will be notified, having a period of 5 days to appeal against the enforcement in Romania. The judicial executor in Romania will carry out the common law procedure, notifying the debtor that, if he does not comply with his payment obligation in Romania, according to the demand for payment letter in Romania, he will continue with the enforcement procedure in Romania.
The appeal against enforcement in Romania, regarding the promissory note in Romania, enforceable title in Romania, will be filed with the enforcement court, which will judge it according to the Code of Civil Procedure, as an emergency matter and in particular, before any other legal actions.
A lawyer specialized in commercial disputes, cancelling promissory notes and appealing against enforcement in Romania can analyze whether the enforceable title issued in Romania has been duly completed and within the statutory period, in accordance with the legal provisions, and also in the procedure of cancelling the promissory note in Romania and appealing against enforcement in Romania.
It is also possible to submit a request for suspension of enforcement proceedings in Romania only if the contestant, by registering in a false form, does not recognize his signature, of his legal representatives or of his authorized agents or does not recognize the power of attorney, according to Article 62 of Law 58/1934. In case of suspension of enforcement proceedings in Romania, the creditor will be able to obtain precautionary measures, such as garnishment or distraint on property.
The court sentence on the appeal against enforcement in Romania can be appealed within 15 days of the sentence delivery.
Thus, when the debtor is prejudiced in connection with the non-compliance with the legal provisions regarding the promissory note in Romania and the enforcement in Romania, he can use the services of a lawyer specialized in commercial disputes, cancelling promissory notes and appealing against enforcement in Romania. The Romanian Law Firm Pavel, Mărgărit and Associates has numerous top-tier lawyers with broad experience in the field of canceling promissory notes in Romania and appealing against enforcement in Romania, enjoying an excellent reputation in the field.
Pavel, Margarit & Associates Romanian Law Firm is one of the top law firms in Romania, offering top legal advice. The Romanian law firm’s clients are foreign and top local companies and high worth individuals. In 2022, the success stories of the Romanian Law Firm have brought recognition from the most prestigious international guides and publications. The firm was ranked third place in Romania by the Legal 500 publication. The Romanian law firm is also recognized by IFLR 1000 Financial and Corporate Guide 2022. Pavel, Margarit & Associates Romanian Law Firm is also the only law firm in Romania recommended by the Global Law Experts Director in London in the Dispute Resolution area of Practice. All the relevant information regarding Pavel, Margarit & Associates Romanian Law Firm can be found on the website www.avocatpavel.ro