Article 404. Unilateral refusal to perform an agreement (renunciation of an agreement) of the Civil Code of the Republic of Kazakhstan

     1. Unilateral refusal to perform a contract (renunciation of a contract) is allowed in the cases provided for by this Code, other legislative acts or an agreement of the parties.

     2. One of the parties has the right to refuse to perform the contract in the following cases::

     1) the impossibility of fulfilling an obligation based on a contract (Article 374 of this Code);

     2) declaring the other party bankrupt in accordance with the established procedure, unless otherwise established by the legislative act of the Republic of Kazakhstan on rehabilitation and bankruptcy;

     3) modification or cancellation of the act of the state body on the basis of which the contract was concluded.

     3. Unilateral refusal to perform the contract is allowed in cases when the contract is concluded without specifying the deadline, unless otherwise provided by legislative acts or agreement of the parties.

     4. In case of unilateral refusal to perform the contract, the party must notify the other party about it no later than one month in advance, unless otherwise provided by this Code, other legislative acts or the agreement of the parties.

President    

Republic of Kazakhstan     

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