1. In bilateral contracts, if one of the contracting parties fails to perform their obligation upon its due date, the other contracting party may, after giving notice to the debtor, request the court to order the performance of the contract or its rescission. 2. The court may oblige the debtor to perform, or grant them a grace period if the circumstances so require. It may also refuse rescission if it is established that the debtor has averted rescission by performing their obligation, or if what the debtor has failed to perform is of minor importance in relation to the obligation as a whole. 3. In all cases, the court may award compensation where there is justification therefor.
Interpretation and application must be checked against the official text and current version.