1055
=U3= Sec372 -- Section 372 Requirements
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=S=> BGB 372 Money , securities and other documents as well as valuables may be deposited by the obligor for the obligee with a public authority intended for this purpose if the obligee is in default of acceptance . The same applies if the obligor cannot fulfil his obligation or cannot do so with certainty for another reason that is in the person of the obligee or as the result of uncertainty , not due to negligence , as to the identity of the obligee .
=U3= Sec373 -- Section 373 Reciprocal and simultaneous performance
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=S=> BGB 373 If the obligor is obliged to perform only in return for performance by the obligee , he may make the right of the obligee to receive the deposited thing dependent upon the rendering of consideration .
=U3= Sec374 -- Section 374 Place of deposit ; duty to notify
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=S=> BGB 374. 1 Deposit must be made at the depositary office of the place of performance ; if the obligor deposits at any other place , he must compensate the obligee for the damage arising from this .
=S=> BGB 374. 2 The obligor must notify the obligee of the deposit without undue delay ; in case of failure to do so he is liable in damages . The notice may be omitted if it is impracticable .
=U3= Sec375 -- Section 375 Retroactive effect with dispatch by mail
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=S=> BGB 375 If the deposited thing has been dispatched to the depositary office by mail , the deposit has retroactive effect to the date when the thing was put in the mail .
=U3= Sec376 -- Section 376 Right to take back
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=S=> BGB 376. 1 The obligor has the right to take back the deposited thing .
=S=> BGB 376. 2 Taking back is excluded if the obligor declares to the depositary office that he waives the right to take back , if the obligee declares his acceptance to the depositary office , if the depositary office is presented with a final and absolute judgment handed down in a dispute between the obligee and the obligor which declares the deposit to be lawful .
=U3= Sec377 -- Section 377 Unpledgeability of the right to take back
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=S=> BGB 377. 1 The right to take back is not subject to pledge .
=S=> BGB 377. 2 If insolvency proceedings are initiated against the assets of the obligor , the right to take back may , for the duration of the insolvency proceedings , not be exercised by the obligor either .
=U3= Sec378 -- Section 378 Effect of deposit where taking back is excluded
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=S=> BGB 378 If taking back the deposited thing is excluded , the obligor is freed from his obligation by deposit in the same way as if he had rendered performance to the obligee at the time of deposit .
=U3= Sec379 -- Section 379 Effect of deposit where taking back is not excluded
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=S=> BGB 379. 1 If taking back the deposited thing is not excluded , the obligor may refer the obligee to the deposited thing .
=S=> BGB 379. 2 As long as the thing is deposited , the obligee bears the risk and the obligor is not obliged to pay interest or provide compensation for emoluments not taken .
=S=> BGB 379. 3 If the obligor takes back the deposited thing , the deposit is deemed not to have occurred .
=U3= Sec380 -- Section 380 Proof of entitlement to receive
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=S=> BGB 380 To the extent that , according to the provisions applicable to the depositary office , a declaration by the obligor acknowledging this entitlement is required or sufficient for proof of the entitlement of the obligee to receive , the obligee may demand from the obligor the issue of the declaration under the same conditions as those under which he would be entitled to demand performance if the deposit had not occurred .
=U3= Sec381 -- Section 381 Costs of deposit
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=S=> BGB 381 The costs of deposit are charged to the obligee to the extent that the obligor does not take back the deposited thing .
=U3= Sec382 -- Section 382 Extinction of the right of the obligee
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=S=> BGB 382 The right of the obligee to the deposited amount is extinguished at the end of thirty years after receipt of the notice of deposit , if the obligee does not report to the depositary office before then ; the obligor is entitled to take the thing back , even if he has waived the right to take back .
=U3= Sec383 -- Section 383 Auction of things not capable of deposit
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=S=> BGB 383. 4 The provisions of subsections ( 1 ) to ( 3 ) do not apply to registered ships and ships under construction .
=U3= Sec384 -- Section 384 Warning of auction
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=S=> BGB 384. 1 The auction is permitted only after the obligee has been warned about it ; the warning may be omitted if the thing is vulnerable to spoilage and postponement of the auction entails danger .
=S=> BGB 384. 2 The obligor must notify the obligee of the auction without undue delay ; in the event of his failure to do so , he is liable in damages .
=S=> BGB 384. 3 The warning and the notice may be omitted if they are impracticable .
=U3= Sec385 -- Section 385 Sale by private agreement
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=S=> BGB 385 If the thing has a stock exchange or market price , the obligor may effect the sale privately at the current price through a commercial broker officially authorised to effect such sales or through a person authorised to sell by public auction .
=U3= Sec386 -- Section 386 Costs of the auction
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=S=> BGB 386 The costs of the auction or of the sale under section 385 are borne by the obligee if the obligor does not reclaim the deposited proceeds .
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