TERMS OF RESPONSIBILITY FOR CREDIT TRANSACTIONS

The article examines the terms of responsibility in credit transactions, established by the provisions of the current legislation and applied in practice by the courts. As it was found by the author the liability of the debtor occurs regardless of whether it is his fault for failure to perform or improper performance of the obligation. As it was analyzed, the law does not even allow the court to take into account the circumstances that led to the breach of the obligation by the debtor in order to reduce the amount of losses and penalties, except for the case when the violation occurred due to the fault of the creditor. The author criticizes such legislator's approach, which establishes the absolute responsibility of the debtor irrespective of his guilt, ignoring the objective circumstances that could lead to the inability of the debtor to fulfill his obligations. In this regard, proposals are made to amend the legislation, which determines the direction of further scientific research.