LEGAL BASIS OF THE REDUCIBILITY OF PENAL CLAUSES
LEGAL BASIS OF THE REDUCIBILITY OF PENAL CLAUSES

Summary/Abstract: The issue of contractual liability in the form of penalty clause inserted in the contract is current and with outstanding theoretical meanings, but mostly practical. Interpretation and application of the new provisions on penalties reducibility imply taking into account the extremely complex issues, that should be analyzed in the context of the penalty clause certainties, certainties which regard functions of penalty clause, mainly sanctioning function, and the compensatory function (to cover the damage caused by debtor by failure of obligations), the legal nature of contracts where is inserted the penalty clause (adhesion contracts or negotiated contracts), etc.

• Details
• Contents