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 the impossibility of increasing the property or prospective property due to the actions or actions of the damager.

According to the provisions of Article 189, paragraph 3 of the Law of Contract and Torts, when assessing the amount of profit lost, the profit that could reasonably be expected according to the regular course of things or according to particular circumstances and whose realization was prevented by the harmed person’s act or omission, is taken into account.

The profit lost can appear in monetary and in-kind forms.

According to the understanding of court practice, lost benefit represents unrealized property value, regardless of whether it would appear in monetary or in-kind form and irrespective of the basis on which it would be realized. Profit lost can arise due to damage to things in the form of loss of natural and civil fruits that escaped the injured party. Continue reading Compensation for profit lost

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 the case of a debtor becoming late in performance.

Liquidated damages shall not be stipulated in relation to monetary obligations.

Method of Calculation

Contracting parties may determine the amount of liquidated damages as they please, either in form of a lump sum or as a percentage, or for each day of delay, or in some other way. Continue reading Liquidated damages

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 interest motion.

A public enforcement officer decides on the motion for enforcement based on the enforceable or credible document for settling monetary claims arising from utility services and related activities.

A public enforcement officer decides on the motion for enforcement for settlement of a pecuniary claim against the enforcement debtors such as the Republic of Serbia, autonomous province or a unit of the local government, an indirect beneficiary of the budget funds which has been indicated in the motion for enforcement as the enforcement debtor, against whom the enforcement collection is carried out in terms of the regulations governing the execution of the budget in the same manner as against the direct beneficiaries of the budget funds and indirect beneficiary of the budget funds.

The enforcement proceedings are conducted upon adoption of the writ on enforcement or on security interest.

Continue reading Enforcement motion and writ of execution