Of a debtor of " money obligation expressed in terms of silver was 10 default before the coming into force the decree, the invalidation of the terms of silver by itself cannot tive rise toa claim for damages. A €reditor in order to be successful must prove that actual damage has accrued, og. by the impossibility to pay his own foreign abilities at a more favourable rate of exchange. An interesting question is whether {in case of contracts left executory at the time of the coming into force of the Government measures or in case. of instalment contracts a party can Fefuse to perform his part of the contract because the other party is by. operation of law prevented. to pay in terms of silver. It is a problematical question and one of far reaching importance whether the prohibition to pay in terms of silver.
"impossibility of performance" in the meaning of Chapter 266. Chinese Civil Code, and operating as a discharge from the further lsbiliies of a contract and giving also a Fight to demand a return of what has been performed. Apart from this question of impossibility of performance there may be in special cases also general grounds for a termination of a contract where by the Government decree the whole commercial basis of a contract Is seriously affected. These questions may under ordinary circumstances Rot become practical so long as the silver purchase price fixed by the Chinese Government remains on the old level. In case of silver bart: contracts or long term or instalment contracts the situation may, however. bbe different.
Text read from the printed page and cleaned; old type leaves the occasional error.