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- Art. 5a FC
- Art. 6 FC
- Art. 10 FC
- Art. 16 FC
- Art. 17 FC
- Art. 20 FC
- Art. 22 FC
- Art. 29a FC
- Art. 30 FC
- Art. 32 FC
- Art. 42 FC
- Art. 43 FC
- Art. 43a FC
- Art. 55 FC
- Art. 56 FC
- Art. 60 FC
- Art. 68 FC
- Art. 75b FC
- Art. 77 FC
- Art. 96 para. 2 lit. a FC
- Art. 110 FC
- Art. 117a FC
- Art. 118 FC
- Art. 123b FC
- Art. 136 FC
- Art. 166 FC
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- Art. 11 CO
- Art. 12 CO
- Art. 50 CO
- Art. 51 CO
- Art. 84 CO
- Art. 143 CO
- Art. 144 CO
- Art. 145 CO
- Art. 146 CO
- Art. 147 CO
- Art. 148 CO
- Art. 149 CO
- Art. 150 CO
- Art. 701 CO
- Art. 715 CO
- Art. 715a CO
- Art. 734f CO
- Art. 785 CO
- Art. 786 CO
- Art. 787 CO
- Art. 788 CO
- Transitional provisions to the revision of the Stock Corporation Act of June 19, 2020
- Art. 808c CO
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- Art. 2 PRA
- Art. 3 PRA
- Art. 4 PRA
- Art. 6 PRA
- Art. 10 PRA
- Art. 10a PRA
- Art. 11 PRA
- Art. 12 PRA
- Art. 13 PRA
- Art. 14 PRA
- Art. 15 PRA
- Art. 16 PRA
- Art. 17 PRA
- Art. 19 PRA
- Art. 20 PRA
- Art. 21 PRA
- Art. 22 PRA
- Art. 23 PRA
- Art. 24 PRA
- Art. 25 PRA
- Art. 26 PRA
- Art. 27 PRA
- Art. 29 PRA
- Art. 30 PRA
- Art. 31 PRA
- Art. 32 PRA
- Art. 32a PRA
- Art. 33 PRA
- Art. 34 PRA
- Art. 35 PRA
- Art. 36 PRA
- Art. 37 PRA
- Art. 38 PRA
- Art. 39 PRA
- Art. 40 PRA
- Art. 41 PRA
- Art. 42 PRA
- Art. 43 PRA
- Art. 44 PRA
- Art. 45 PRA
- Art. 46 PRA
- Art. 47 PRA
- Art. 48 PRA
- Art. 49 PRA
- Art. 50 PRA
- Art. 51 PRA
- Art. 52 PRA
- Art. 53 PRA
- Art. 54 PRA
- Art. 55 PRA
- Art. 56 PRA
- Art. 57 PRA
- Art. 58 PRA
- Art. 59a PRA
- Art. 59b PRA
- Art. 59c PRA
- Art. 62 PRA
- Art. 63 PRA
- Art. 67 PRA
- Art. 67a PRA
- Art. 67b PRA
- Art. 75 PRA
- Art. 75a PRA
- Art. 76 PRA
- Art. 76a PRA
- Art. 90 PRA
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- Vorb. zu Art. 1 FADP
- Art. 1 FADP
- Art. 2 FADP
- Art. 3 FADP
- Art. 5 lit. f und g FADP
- Art. 6 Abs. 6 and 7 FADP
- Art. 7 FADP
- Art. 10 FADP
- Art. 11 FADP
- Art. 12 FADP
- Art. 14 FADP
- Art. 15 FADP
- Art. 19 FADP
- Art. 20 FADP
- Art. 22 FADP
- Art. 23 FADP
- Art. 25 FADP
- Art. 26 FADP
- Art. 27 FADP
- Art. 31 para. 2 lit. e FADP
- Art. 33 FADP
- Art. 34 FADP
- Art. 35 FADP
- Art. 38 FADP
- Art. 39 FADP
- Art. 40 FADP
- Art. 41 FADP
- Art. 42 FADP
- Art. 43 FADP
- Art. 44 FADP
- Art. 44a FADP
- Art. 45 FADP
- Art. 46 FADP
- Art. 47 FADP
- Art. 47a FADP
- Art. 48 FADP
- Art. 49 FADP
- Art. 50 FADP
- Art. 51 FADP
- Art. 54 FADP
- Art. 57 FADP
- Art. 58 FADP
- Art. 60 FADP
- Art. 61 FADP
- Art. 62 FADP
- Art. 63 FADP
- Art. 64 FADP
- Art. 65 FADP
- Art. 66 FADP
- Art. 67 FADP
- Art. 69 FADP
- Art. 72 FADP
- Art. 72a FADP
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- Art. 2 CCC (Convention on Cybercrime)
- Art. 3 CCC (Convention on Cybercrime)
- Art. 4 CCC (Convention on Cybercrime)
- Art. 5 CCC (Convention on Cybercrime)
- Art. 6 CCC (Convention on Cybercrime)
- Art. 7 CCC (Convention on Cybercrime)
- Art. 8 CCC (Convention on Cybercrime)
- Art. 9 CCC (Convention on Cybercrime)
- Art. 11 CCC (Convention on Cybercrime)
- Art. 12 CCC (Convention on Cybercrime)
- Art. 25 CCC (Convention on Cybercrime)
- Art. 29 CCC (Convention on Cybercrime)
- Art. 32 CCC (Convention on Cybercrime)
- Art. 33 CCC (Convention on Cybercrime)
- Art. 34 CCC (Convention on Cybercrime)
FEDERAL CONSTITUTION
CODE OF OBLIGATIONS
FEDERAL LAW ON PRIVATE INTERNATIONAL LAW
LUGANO CONVENTION
CODE OF CRIMINAL PROCEDURE
CIVIL PROCEDURE CODE
FEDERAL ACT ON POLITICAL RIGHTS
CIVIL CODE
FEDERAL ACT ON CARTELS AND OTHER RESTRAINTS OF COMPETITION
FEDERAL ACT ON INTERNATIONAL MUTUAL ASSISTANCE IN CRIMINAL MATTERS
DEBT ENFORCEMENT AND BANKRUPTCY ACT
FEDERAL ACT ON DATA PROTECTION
SWISS CRIMINAL CODE
CYBERCRIME CONVENTION
I. General
A. Scope of application and regulatory content of Art. 84 CO
1 Art. 84-90 CO deal with monetary payment as a form of fulfilment under the marginalia "Payment."
2 Art. 84 para. 1 CO states that a debtor must settle his monetary debt with the legal tender of the currency owed. Art. 84 para. 2 CO supplements this principle by stating that a foreign currency debt may also be paid in "local currency", provided this is not excluded by a clause using the term “actual currency” (“effektiv”) or a similar clause.
B. Concept of money
3 The term "money" can be found in numerous provisions,
C. Forms of money and its legal nature
1. Cash
4 Cash includes domestic and foreign coins and banknotes.
2. Book money
5 Book money represents a claim of the account holder against his account-holding bank for the surrender of national currency.
6 In addition to cash, the use of book money has long been established in everyday payment transactions.
7 In contrast to the bank deposits of commercial banks, sight deposits denominated in Swiss francs at the SNB (cf. Art. 9 para. 1 lit. a NBA) are only available to a limited group of legal entities (in particular commercial banks).
3. Further forms of money
a. Private monetary systems
8 Private entities can establish payment systems.
b. Cryptocurrencies
9 Since the beginning of 2009
c. Central Bank Digital Currency
10 Numerous central banks around the world are currently looking into the possibility of issuing central bank digital currency.
D. Monetary constitution
11 Monetary policy is the responsibility of the Confederation (Art. 99 para. 1 Cst.).
II. Art. 84 para. 1 CO
A. Concept of a monetary debt
12 A monetary debt represents the obligation to pay a certain sum of money (“Summenschuld”).
13 Only in the case of a monetary debt must default interest be paid in accordance with Art. 104 para. 1 CO.
14 The fulfilment of a monetary debt by sum cannot become impossible in a legal sense.
15 The amount owed can be determined either directly (e.g. "CHF 150.00") or indirectly (e.g. with reference to a certain tariff of a professional association or a factual situation [e.g. price of a stock on a certain cut-off date]).
B. Value of a monetary debt (nominal value principle)
1. General
16 By their very nature, monetary debts are debts of value and are therefore subject to fluctuations in value.
2. Nominal value principle
17 According to prevailing doctrine and case law, the (non-statutory)
3. Exceptions to the nominal value principle
a. Value-retaining monetary debts
18 Value-retaining debts do not amount to a fixed sum.
b. Contractual value retention
19 In order to protect the creditor of a monetary debt against any devaluation, the parties can contractually agree to retain the value of the monetary debt, which is particularly common in the case of long-term obligations.
c. Statutory or judicial adjustment
20 In exceptional cases, there is the possibility of a statutory revaluation of the Swiss franc,
21 Furthermore, in the event of a sudden collapse of a currency,
C. Fulfilment of a monetary debt
1. Obligation of the debtor to fulfil in legal tender
22 According to Art. 84 para. 1 CO, monetary debts are to be paid in legal tender
2. Obligations of the creditor
23 From the debtor's obligation to fulfil in national currency derives the creditor's obligation to accept it in payment, otherwise the creditor is in default (Art. 91 CO).
24 As not being legal tender, the creditor is under no obligation to accept cashless payments or book money.
25 The agreement of a cashless payment is to be assumed if the creditor discloses its payment details to the debtor (e.g. on the letterhead, on the invoice or in e-commerce on the website).
26 Whether the mere opening of a bank account already constitutes tacit consent to accept a cashless payment is debatable.
27 With regards to sight deposits at the SNB, creditors who have an account with the SNB are obliged to accept the credit of such deposits as payment (Art. 3 para. 3 CPIA). The public treasuries of the Confederation and the SNB are then obliged to accept regular issue coins, commemorative coins and bullion coins at nominal value without restriction (Art. 3 para. 1 sentence 2 CPIA).
28 Other means of payment (e.g. foreign banknotes or cryptocurrencies) do not have to be accepted by a creditor unless contractually agreed.
3. Method of fulfilment
a. Cash payment
29 Cash payment is becoming increasingly less popular.
30 As physical objects, banknotes and coins are subject to the provisions of property law. The transfer of cash is effected by physical delivery, i.e. by the transfer of possession of a movable object (Art. 714 para. 1 CC).
b. Cashless payment
31 Most monetary debts today are settled using cashless means of payment (e.g. bank transfer, credit card, Twint, etc.).
32 Both contracting parties require a (bank-)account to process cashless transactions. The legal basis consists of a contractual long-term agreement between the bank and the customer, which is subject to the provisions on simple mandates (Art. 394 et seq. CO).
33 When processing a specific credit transfer, this contractual level is supplemented by an instructional level.
34 A valid cashless payment constitutes fulfilment and not merely performance in lieu of fulfilment.
4. Time and place of fulfilment
35 Monetary debts are generally debts to be paid at the creditor's domicile (Art. 74 para. 2 no. 1 CO; «Bringschulden»).
36 The creditor must be able to dispose of the amount owed on the last day of the specific payment period.
III. Art. 84 para. 2 CO
A. Concept of a foreign currency debt
37 A foreign currency debt is a monetary debt that is denominated in foreign currency
B. Defining the foreign currency debt
38 Usually, the currency in which the monetary debt is to be fulfilled is expressly stated in the contract.
39 Art. 84 para. 2 CO does not address the determination of the amount of the foreign currency debt, merely the question of the right of conversion. Hence, foreign currency debts are likewise subject to the nominal value principle.
40 Contractual claims for damages are generally denominated in the currency of the contract.
41 If an unjustly enriched person is obliged to provide reimbursement but has already exchanged the unjustly received foreign currency amount into local currency, they are not obliged to exchange it back. Instead, reimbursement may be made in local currency.
C. Right of the debtor to fulfilment in local currency
42 Art. 84 para. 2 CO provides the debtor of a foreign currency debt whose place of payment is in Switzerland with the right to fulfil in Swiss national currency (Swiss francs, CHF). This right of the debtor represents a statutory alternative authorisation.
43 On the other hand, the creditor may only demand fulfilment in the foreign currency.
44 The statutory alternative authorisation in Art. 84 para. 2 CO does not apply, if literal performance is required by inclusion in the contract of the expression ‘actual currency’ or words to that effect.
D. Conversion of a foreign currency debt
1. Applicable conversion rate
45 According to Art. 84 para. 2 CO, foreign currency debts can be settled in local currency "at the rate of exchange that applies on the day it falls due". The amount converted into Swiss francs must therefore correspond in value to the amount owed in foreign currency at the time the foreign currency debt matures (Art. 75 CO).
46 Locally decisive is the exchange rate at the statutorily given or contractually agreed place of payment.
2. Damage from exchange rate fluctuations
47 If the debtor is in default (Art. 102 para. 1 CO), he is liable for any damages that occur as a result of exchange rate fluctuations (Art. 103 et seq. CO).
E. Offsetting foreign currency debts
48 If no clause within the meaning of Art. 84 para. 2 CO has been agreed, the offsetting of monetary debts denominated in different currencies is permissible according to the Federal Supreme Court,
F. Enforcement of a foreign currency debt
1. Prayer in the case of a foreign currency debt
49 A claim in a foreign currency must be filed in the agreed currency by the creditor.
50 The Federal Supreme Court is aware of the criticism of the doctrine.
2. Calculation of the value in dispute for a foreign currency debt
51 The value in dispute is determined by the prayers for relief (Art. 91 para. 1 CPC). In the case of a foreign currency claim, a conversion into Swiss francs must be carried out on the date of lis pendens (Art. 61 para. 1 CPC).
3. Debt enforcement of a foreign currency debt
52 Art. 67 para. 1 no. 3 DEBA requires that the amount of the claim be stated in the debt enforcement request in Swiss francs. This conversion is provided for reasons of expediency and does not lead to novation (Art. 116 CO); the claim is still owed in foreign currency.
53 The exchange rate at the place and on the day of the request for debt enforcement is decisive for the conversion.
54 If the exchange rate changes in the course of the debt enforcement proceedings and the debtor has paid more as a result, he is entitled to sue for recovery (Art. 86 DEBA).
55 Literal foreign currency debts within the meaning of Art. 84 para. 2 CO as well as monetary debts determined by category ("Geldsortenschuld")
4. Foreign currency debts in bankruptcy, attachment and probate
56 In the bankruptcy petition, the creditor must convert the claim into Swiss francs (see Art. 211 DEBA).
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