Original scientific paper
Acknowledgement of Debt Which Leads to the Interruption of the Limitation Period
Antun Bilić
orcid.org/0000-0001-5144-0821
; Faculty of Law, University of Zagreb, Zagreb, Croatia
Abstract
This paper deals with the purpose and requirements of a unilateral acknowledgement of debt (Art. 240 Obligations Act). The purpose of the acknowledgement of debt is to protect a creditor’s reliance that the debtor will perform his obligation. Reliance on debtor’s performance can lead the creditor to fail to initiate proceedings before a competent body and, thus, prevent the lapse of the limitation period. The requirements for acknowledgement of debt are that a debtor manifests to his creditor his awareness of the existence of a determinable debt, without additional qualifiers which would cast doubt on his performance. Such acknowledgement leads to the interruption of the limitation period and it can serve as evidence in the court proceedings.
Keywords
acknowledgement of debt; limitation period; interruption of limitation period; protection of creditor’s reliance
Hrčak ID:
181637
URI
Publication date:
4.5.2017.
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