According to Article 77 of People's Republic of China (PRC) Contract Law, the parties can modify the contract through consultation. Where laws and administrative regulations stipulate that the alteration of a contract shall go through the formalities of approval and registration, such provisions shall prevail. If the parties are not clear about the contents of the contract change, it is presumed that it has not been changed.
According to Article 207 of the Contract Law of People's Republic of China (PRC), if the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or relevant state regulations. The borrower may apply to the lender for extension before the repayment period expires. If the lender agrees, it can be extended.
According to Article 206 of People's Republic of China (PRC) Contract Law, the borrower shall repay the loan within the agreed time limit. If the term of the loan is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 61 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time.
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According to Article 107 of the Contract Law of People's Republic of China (PRC), if a party fails to perform its contractual obligations or fails to perform its contractual obligations, it shall be liable for breach of contract such as continuing to perform, taking remedial measures or compensating for losses.
If one of the parties expressly expresses or shows by his own behavior that he will not perform the contractual obligations, the other party may require him to bear the liability for breach of contract before the expiration of the performance period.
After one party breaches the contract, the other party shall take appropriate measures to prevent the loss from expanding; If appropriate measures are not taken to expand the losses, no compensation shall be claimed for the expanded losses.
China Government Network-People's Republic of China (PRC) Contract Law