Failure to perform agreed act

Whoever bound himself to perform some act, and failed to perform it, or did not perform it in the agreed manner, is liable to pay compensation for losses and damages, on the following terms: 1. Where the obligation was to be performed within a specified period and a specified date, the liability starts from the time of expiry of the period, or the specified date; 2. Where the obligation was not dependent on certain time, the liability starts only from the date when the demand was made on the person who was to perform the obligation. § 1 - The notice issued or ordered to be issued by the creditor to the person bound by the obligation to perform the same is called demand. § 2 - Such as notice can be given through court, or by the creditor himself in presence of two witnesses.