LEGAL STATUS OF THE PLEDGE CREDITOR AND THE PLEDGE DEBTOR IN MACEDONIAN LAW
LEGAL STATUS OF THE PLEDGE CREDITOR AND THE PLEDGE DEBTOR IN MACEDONIAN LAW

Summary/Abstract: The paper analyses the legal status of the pledge creditor and the pledge debtor viewed through the prism of the two legal relationships (external and internal) resulting from establishing the pledge right as a real right (right in rem). Considering the differences between the external legal relationship with an erga omnes effect and the internal legal relationship between the pledge creditor and the pledge debtor with an inter partes effect, the paper examines the legal status of the parties separately in each relationship. The paper aims to demonstrate the complexity of these relationships and the need for them to be under solid regulation. In the paper, special attention is given to the problem of the lack of appropriate regulation in the Macedonian legal system, leading to legal uncertainty and compromising the legal status of both the pledge creditor and the pledge debtor.

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