Law of Contract and Torts - Dragana Djordjevic, attorney, Belgrade

According to the provisions of the Law of Contract and Torts lease agreement shall be defined as a contract by which one person shall assume the obligation to deliver a specific object to another person (lessee) for use, and lessee shall assume the obligation to pay him in return a specified compensation (rent) and to restore him the rented thing after the termination of the contract. The use shall also include collecting yields, unless otherwise provided by contract or by trade usage.

The lease agreement is named contract because it is regulated by law, onerous, consensual – it is formed in accordance with the consenting minds, bilaterally binding and simple contract – it does not contain elements of the other contracts.

Also according to the provisions of the Law of Contract and Torts the lease agreement is an informal contract. Continue reading Real estate lease agreement according to the Law of Contract and Torts →

Contract of assumption of debt represents agreement between a debtor and a person assuming the debt in which the creditor has agreed to change the debtor of obligation by contract.

Assumption of debt is regulated by the provisions of Articles 446. to 450. of the Law on Contract and Torts and represents one of the ways provided for by the law of the debtor’s change and by the conclusion of the contract.

According to the provisions of the Law on Contract and Torts contract of assumption of debt is informal contract. However, if the debtor and the third party by the agreement transfer a debt to a third party, which has a source in a contract, which according to the law must be concluded in a certain form (eg, written or certification of the court), and an agreement of assumption of debt must be concluded in the same form.

Contract of assumption of debt have a legal effect regardless of the motive, which have directed the debtor and a third party – a person assuming the debt to conclude an contract by which a third party will assume the debt of the debtor to himself Continue reading Contract of Assumption of Debt →