APPLICATION PROBLEMS OF CLAIM LIMITATION PERIOD FOR CLAIMS ARISING FROM COMMERCIAL TRANSACTIONS
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Abstract
On 1st of January 2010 a section of Commercial Law on commercial transactions entered into force. Respective regulation has been adopted in order to establish rules which would fit specific needs of companies and businessmen. The legislator has considerably reduced the limitation period: from 10 years to 3 years. Given that there is currently no uniform case-law and interpretation that would allow enforcing the limitation period for commercial transaction claims, there will be aspects of claim rights limitation period analysed arising from claims where commercial transaction participants are entrepreneurs, as well as commercial transactions where one of the participants is an entrepreneur and a consumer.
How to Cite
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The Law on Commerce, claim rights limitation period, participants of commercial transactions, entrepreneur, consumer
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