Court

Law of Contract and Torts

Compensation for profit lost

According to the provisions of the Law of Contract and Torts, in addition to the right to compensation for ordinary damages, the injured party has the right to compensation in the form of profit lost. Common damage represents a decrease in an existing property. At the same time, the profit lost is damage reflected in…
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Compensation for damages

Liquidated damages

A creditor and a debtor may stipulate that the debtor shall pay to the creditor a specific sum or supply him with some other property benefit, should he fail to perform his non-monetary obligation, or delay in performing it (liquidated damages). Unless something else results from contract, liquidated damages shall be considered as stipulated for…
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Law on Enforcement and Security Interest

Enforcement motion and writ of execution

Enforcement proceedings and security interest proceedings are initiated by a judgment creditor filing a motion for the enforcement based on enforceable or credible document or a motion for a security interest or ex officio only when provided by the law. A court decides on the motion for enforcement based on enforceable or credible document and a security…
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Null and Void Contracts and Rescindable Contracts

Invalidity of the Contracts

All contracts to be considered legal and produce legal effects must meet certain conditions: the declaration of the intention must be given by a person who has the necessary legal capacity, serious – made to produce the legal effect, and not for any other purpose, free (that there is no defect of consent) – delusion,…
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Law on Amendments to the Companies Act

Reserved own share and financial instrument

Since April 1, 2020, began implementation of the Law on Amendments to the Companies Act (“Off. Herald of RS”, Nos. 91/2019) by which two new legal institutes for limited liability companies were introduced: reserved own share and financial instrument – right to acquire a share. Reserved Own Share A reserved own share of a company…
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Companies Act

Expulsion of a Company member

In accordance with the provisions of Companies Act company member can be expelled by resolution of the general meeting or by a court decision. Expulsion of a Member by Resolution of the General Meeting Persons who have, under the memorandum of association or otherwise, taken on the responsibility of paying, or entering a certain contribution…
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