Review article

THE LIMITATIONS IN THE APPLICATION OF THE CURRENCY CLAUSE BY THE PRINCIPLES WITH MORALCONTENT

Ivan Akrap ; Sveučilišni odjel za stručne studije u Splitu
Mirella Rodin ; Općinski sud u Rijeci, Stalna služba u Rabu

Abstract

The provision, which allows the use of currency clause in the Republic of Croatia is introduced in the Law on Obligations in 1994 with the purpose to realize the principle of equal value of performances, in order to protect creditors from the depreciation of the national currency. At the same time no limitations were prescribed in the application of the currency clause, which can, in the different circumstances, lead to a disproportion in the rights and obligations of the parties, on the damage of the debtor.
This paper will analyze the economic, social and legal reasons for the introduction of the foreign currency clause in Law, and the importance of legal rules of business with moral content as the limitations of rights based on currency clause during execution of the contract.
For that purpose, the general Civil Law rules will be restricted from the separate fields of law, which seek to protect consumers and traders. Furthermore, the authors will examine the possibilities of the protection by these special branches of law against unfair practice during contractual relations with currency clause in Croatian, European and International Law. The authors will observe the recent case law, which classify contracts with a foreign currency clause as the contract with aleatory elements. In conclusion, it would be given the answer to the question whether the basic principles with moral content limit the application of the currency clause.

Keywords

principle of monetary nominalism; currency clause; business morality; principle of equal value of performances; principle of good faith and fair dealing

Hrčak ID:

154324

URI

https://hrcak.srce.hr/154324

Publication date:

30.12.2015.

Article data in other languages: croatian

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