Mortgage Law governs the mortgage, for the purpose of securing and collection of claims. A mortgage is a lien right on real estate, which empowers the creditor, in the event of the debtor’s failure to pay a matured debt, to request the collection of claim secured by the mortgage from the value of the real estate prior to the ordinary creditors and prior to junior mortgage creditors, regardless of who is in the possession of the real estate.
Mode of Institution and Types of Mortgage
A mortgage is instituted by registration in the competent real estate registry, on the basis of:
- Agreement or a judicial settlement (contractual mortgage)
- Mortgage deed (unilateral mortgage)
- Statute (statutory mortgage)
- Court decision (judicial mortgage).
The contractual mortgage rules apply mutatis mutandis to unilateral, statutory and judicial mortgage, unless otherwise provided by law. Continue reading Mortgage agreement
Compensation is a method of the termination of debts and claims without fulfillment. On the basis of compensation in relation to one person shall be terminated debts and claims which exist towards another person without fulfillment.
Compensation may be legal, contractual and unilateral.
Legal compensation is compensation which is conducted on the basis of the law, regardless of the willingness of participants in compensation. Currently legal compensation does not stipulated by the positive legislation of Republic Serbia. Contractual compensation is compensation which arising under the contract, while the unilateral form is arised on the basis of a unilateral statement of intention
Contractual compensation is not regulated by law explicitly, but it is allowed on the basis of freedom of contracting (autonomy of intention). Continue reading Compensation
According to provisions of the Companies Act a contract on control and management shall be concluded in the case of forming an contractual group of companies. A contractual group of companies consists of a controlling company and one or more controlled companies that have entered into a contract on control and management.
A contract on control and management is regulated by the provisions of Articles from 554 to 566 of the Companies Act.
Concept, Conclusion, Amendments and Termination
A contract on control and management is a contract whereby a company grants the management and conduct of operations to another company.
If the companies making up a group based on equality in terms of Article 551 paragraph 2 item 3) of the Companies Act enter into a contract introducing uniform manner of management, such a contract is not be deemed to be a contract on control and management in terms of the Companies Act. Continue reading Contract on control and management