A right to request fulfilment of an obligation shall come to an end if time barred by statute of limitations. Unenforceability due to the statute of limitations shall follow the expiration of the period specified by statute during which the creditor was entitled to request fulfilment of the obligation.
The court shall not consider the fact of an obligation being time barred should the debtor fail to invoke it. This means that the debtor must raise the unenforceability period’s objection in the dispute for the court to consider it. The unenforceability period’s complaint is substantive, and the court will, as soon as it accepts this objection, reject the claim by a judgment and not renounce the action because of procedural reasons.
A debtor shall not renounce unenforceability prior to the expiration of time set forth for such unenforceability. However written acknowledgment of an obligation expired due to statute of limitations shall be construed as the renouncing of unenforceability. Providing security or other kind of guarantee to cover a claim expired due to statute of limitations shall have the same effect.
According to the provisions of the Law of the Contract and Torts, changing the legal unenforceability time limit by the contract is expressly forbidden.
Continue reading Unenforceability of the claims for damages
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