COVID-19 PANDEMIC AND CONTRACTUAL RELATIONSHIPS: FORCE MAJEURE AND IMPOSSIBILITY
COVID-19 PANDEMIC AND CONTRACTUAL RELATIONSHIPS: FORCE MAJEURE AND IMPOSSIBILITY
Author(s): Mihajlo CvetkovićSubject(s): Health and medicine and law, Human Ecology
Published by: Универзитет у Нишу
Keywords: Force-majeure; Impossibility; Contract Frustration; Covid-19; obligation termination.
Summary/Abstract: In every country touched by Covid-19, contractual performance is affected. Legislation enforcing lockdowns has made many contracts illegal to perform. Excessively unbalanced contracts become major issue due to health emergencies. In order to release the debtor, the force majeure must be unpredictable. However, the world has been warned of a looming epidemic and its consequences onto unprepared world. The paper examines if the Serbian Act on Obligations and its rules on impossibility protect the debtors in the circumstances of Covid-19, by comparing domestic solutions with European, transnational and Common law. Despite numerous provisions, traditional solutions were not adequate, so emergency regulations have been adopted, usually incompatible with the private law regime.
Journal: Teme - Časopis za Društvene Nauke
- Issue Year: XLV/2021
- Issue No: 4
- Page Range: 1147-1162
- Page Count: 16
- Language: English