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Regarding the Consequences of Void Transactions

Summary/Abstract: The article is dedicated to the direct and indirect legal consequences of void transaction as regulated by the Bulgarian Law. Void transactions do not create rights and obligations for the parties from the very beginning as a general rule but there are some exceptions and side effects which are described in the article. Different property consequences may occur when the subject of the void transaction changes its possession from one party to the other. The prerequisites of the claim for restitution according to Art. 34 of Obligations and Contracts Act (OCA) are pointed out in details and a distinction and comparison with the general rule under Art. 55, Para 1 OCA is made. The indirect legal consequences that are analyzed in the article are the possible conversion of the void transactions into transactions with different legal consequences, the effect for the rights of third parties and the inclusion of the void transaction as element of complex civil and non-civil juridical facts. Examples from the practice of the Supreme Court of Cassation are used by the author to ground his personal opinions or critical analysis. Some proposals are made for amendments of the law which may contribute to the confidence of the civil turnover and the security of third parties rights who have gained them in good faith.

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