Recodification Guide for Entrepreneurs No. 7
An inalienable part of each Civil Code is the regulation of obligations. The most common basis for the creation of obligations are contracts, the conclusion and content of which are usually quite thoroughly regulated. The law provides formal procedure for the making and offering for conclusion of a contract and its acceptance, the moment of conclusion of a contract, requirements for a form or e.g. the right to refer to general terms & conditions. Contract law includes also rules for amending (either by virtue of agreement or any other event) or termination (e.g. by notice of withdrawal or notice of termination) of contracts. The question of securing obligations is also very important, i.e. contractual provisions or even whole agreements drawn up to strengthen the creditor’s rights (e.g. contractual penalty) or give him a substitute source of satisfaction for his claims (e.g. guarantee or pledge agreements). Similarly as in the field of business corporations, the new Civil Code aims to give parties as much freedom as possible so that they can determine the content of their contract to the maximum possible extent, while seeking to protect weaker party (consumers, in particular). In this issue, we will deal with the above outlined general issues of contract and obligation law and the following issues will be dedicated to specific contractual types under the new Civil Code.
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- Date: 01. 01. 2014