The Impact of Limited Jurisprudence on Fiducia in Romanian Law Cover Image

The Impact of Limited Jurisprudence on Fiducia in Romanian Law

Author(s): Günay Duagi
Subject(s): Civil Law
Published by: Universul Juridic
Keywords: : fiduciary case law; limited fiduciary practice; fiduciary impact; fiduciary contract; fiduciary;
Summary/Abstract: At a preliminary and superficial look, an external observer could find with surprise the limited jurisprudence on fiducia in Romania, although this institution was introduced into the new Romanian law by the new Civil Code which has been in force for over 8 years. However, at a closer and informed look, the reasons underlying this seeming lack of conflict in the fiduciary field will be revealed. A reason for the limited case law in Romania is that the very practice and use of this institution, although rising, is still low, according to the records of the National Register for Movable Securities. Another important reason is that in the case of fiduciary contracts that are ongoing they have not reached the "maturity" necessary to turning into litigation, the parties being still in the accumulation phase because of the novelty of this institution and its practical effects on medium and long term. Also, the relationship of trust that fiducia should inspire due to the importance of the operations that take place under its authority, as well as the qualification that the fiduciary must have, are also relevant. Regarding the impact of this limited case law on the fiducia, we consider that this leads to both benefits (potential beneficiaries gaining confidence that it is not a dispute generating contract) and disadvantages for this institution (practitioners do not have information on settling such litigation and therefore may be reluctant to use them in practice).

  • Page Range: 152-157
  • Page Count: 6
  • Publication Year: 2019
  • Language: Romanian