A Form of Cooperation A franchise is a form of long-term cooperation regulated by an agreement between two legally independent businesses, where, in exchange for a one-time and/or ongoing fee,…
Guarantor’s Obligation A guarantee is a unilateral undertaking by the guarantor to pay the amount specified in the guarantee, in whole or in part, to another person – the creditor,…
Conditions and Legal Consequences A mortgage is the encumbrance of immovable property to secure the fulfillment of an existing or future financial obligation, where the pledged property is not transferred…
Concept of the Limitation Period The limitation period is a time frame established by law within which a person may defend their violated rights by bringing a claim before the…
The Essence of Acquisitive Prescription Acquisitive prescription is a situation in which a natural or legal person, who is not the owner of a thing, but has acquired it in…
Concept of Pledge A pledge is the encumbrance of movable property or proprietary rights to secure the performance of an existing or future debt obligation, where the pledged asset is…
Collection Operations Collection – operations carried out by a bank (the remitting bank) with documents on the client’s instructions, for the purpose of obtaining payment and/or payment acceptance, or releasing…
Modification and termination of contractual obligations Set-off is a unilateral declaration (legal act) by one party that changes the contractual relationship between a creditor and a debtor, provided there are…
Partnership Agreement A joint activity agreement (partnership agreement) – under this agreement, two or more persons (partners), combining their property, work, or knowledge, undertake to act jointly for a specific…
Definition of Legal Capacity Civil legal capacity is one of the fundamental characteristics of a legal entity. The legal capacity of a legal entity is the ability to possess rights…