According to the provisions of the General Principles of Civil Law of People's Republic of China (PRC):
Article 84 A debt is a specific relationship of rights and obligations between the parties according to the contract or the law. Creditors are creditors and debtors are debtors. The creditor has the right to require the debtor to perform its obligations in accordance with the contract or according to law.
Article 108 A debt shall be paid off. If it is temporarily unable to repay, it may be repaid by the debtor in installments with the consent of the creditor or the ruling of the people's court. Those who have the ability to repay and refuse to repay shall be forced to repay by the people's court.
Extended data:
According to the general principles of loans:
Article 71 Under any of the following circumstances, the lender will charge interest on part or all of the loan: if the circumstances are particularly serious, the lender shall stop paying the unused loan of the borrower and recover part or all of the loan in advance:
1. Failing to use the loan for the purpose specified in the loan contract.
Second, the use of loans for equity investment.
Third, engage in speculative business with loans in securities and futures.
Four, the borrower who has not obtained the qualification of real estate business according to law uses the loan to operate the real estate business; Borrowers who are legally qualified to operate real estate engage in real estate speculation with loans.
Five, not according to the provisions of the loan contract to pay off the loan principal and interest.
6. Borrowing money from each other to obtain illegal income.
Article 72 In any of the following circumstances, the lender shall order the borrower to make corrections. If the circumstances are particularly serious or are not corrected within the time limit, the lender shall stop paying the unused loan of the borrower and recover part or all of the loan in advance:
1. Provide information such as balance sheet and income statement to the lender. Falsely reporting or concealing important facts;
2. Failure to provide the lender with all information such as bank, account number, deposit and loan balance;
3. Refuse to accept the lender's supervision over the use of its credit funds and related production, operation and financial activities.
Seventy-third administrative departments, enterprises and institutions, joint-stock cooperative economic organizations, supply and marketing cooperatives, rural cooperative foundations and other foundations grant loans without authorization; Enterprises that borrow without authorization or in disguised form shall be fined 1 times but less than 5 times according to the illegal income by the People's Bank of China, and shall be banned.
Article 74 If a party refuses to accept the punishment decision of the People's Bank of China, it may apply for reconsideration according to the Administrative Reconsideration Measures of the People's Bank of China (Trial), and the original punishment shall be implemented during the reconsideration.
Baidu Encyclopedia-General Principles of Civil Law in China