Guarantee of Delayed Payment of Deferred Price

The guarantee of delayed payment price is one of the most important issues in the sales contract. The question is: “If the buyer does not pay the price on time، can the seller terminate the contract initially? Under the article 395 of civil code، the seller can require the buyer to pay the price or terminate the contract. But most of the writers، on the appearance of the article، have limited the seller''s right to terminate the contract to the option of the delayed payment of price that appertains to cash price. They believe that in terms of price، the seller has the right to require the buyer to pay the price. This theory not only causes difficulties and injustices، but also is not coordinate by the laws of the developed countries and international trade. It cannot be justified by the civil law too. According to the writer of this article، contrary to the popular opinion، in the case of delay in payment، the seller in addition to the right of enforcement، can terminate the contract whether it is cash price or deferred.