prikaz prve stranice dokumenta Can Financial Crisis Lead to the Application of the Institute of Changed Circumstances Under Croatian Law?
No public access
Scientific paper - Original scientific paper
Can Financial Crisis Lead to the Application of the Institute of Changed Circumstances Under Croatian Law?
In: EFFECTS OF FINANCIAL CRISES ON THE BINDING FORCE OF CONTRACTS - RENEGOTIATION, RESCISSION OR REVISION. Switzerland: Springer, 2016. pp. 83-100. https://doi.org/10.1007/978-3-319-27256-6_5
Bukovac Puvača, Maja; Mihelčić, Gabrijela; Tuhtan Grgić, Iva

Institutional repository: Repository of the University of Rijeka, Faculty of Law

Cite this document

Bukovac Puvača, M., Mihelčić, G. & Tuhtan Grgić, I. (2016). Can Financial Crisis Lead to the Application of the Institute of Changed Circumstances Under Croatian Law?. EFFECTS OF FINANCIAL CRISES ON THE BINDING FORCE OF CONTRACTS - RENEGOTIATION, RESCISSION OR REVISION (pp. 83-100). Switzerland: Springer. doi: 10.1007/978-3-319-27256-6_5

Bukovac Puvača, Maja, et al. "Can Financial Crisis Lead to the Application of the Institute of Changed Circumstances Under Croatian Law?." EFFECTS OF FINANCIAL CRISES ON THE BINDING FORCE OF CONTRACTS - RENEGOTIATION, RESCISSION OR REVISION, Springer, 2016, pp. 83-100. https://urn.nsk.hr/urn:nbn:hr:118:455617

Bukovac Puvača, Maja, Gabrijela Mihelčić and Iva Tuhtan Grgić. "Can Financial Crisis Lead to the Application of the Institute of Changed Circumstances Under Croatian Law?." In EFFECTS OF FINANCIAL CRISES ON THE BINDING FORCE OF CONTRACTS - RENEGOTIATION, RESCISSION OR REVISION, 83-100. Switzerland: Springer, 2016. Accessed 2025 January 03. https://urn.nsk.hr/urn:nbn:hr:118:455617

Bukovac Puvača, M., Mihelčić, G. and Tuhtan Grgić, I. (2016) 'Can Financial Crisis Lead to the Application of the Institute of Changed Circumstances Under Croatian Law?', EFFECTS OF FINANCIAL CRISES ON THE BINDING FORCE OF CONTRACTS - RENEGOTIATION, RESCISSION OR REVISION, Springer, Switzerland, pp. 83-100. Available at: https://urn.nsk.hr/urn:nbn:hr:118:455617 (Accessed 03 January 2025)

Bukovac Puvača M, Mihelčić G, Tuhtan Grgić I. Can Financial Crisis Lead to the Application of the Institute of Changed Circumstances Under Croatian Law?. EFFECTS OF FINANCIAL CRISES ON THE BINDING FORCE OF CONTRACTS - RENEGOTIATION, RESCISSION OR REVISION. Switzerland: Springer; 2016. Pp. 83-100. [cited 2025 January 03] Available at: https://urn.nsk.hr/urn:nbn:hr:118:455617

M. Bukovac Puvača, G. Mihelčić and I. Tuhtan Grgić, "Can Financial Crisis Lead to the Application of the Institute of Changed Circumstances Under Croatian Law?", EFFECTS OF FINANCIAL CRISES ON THE BINDING FORCE OF CONTRACTS - RENEGOTIATION, RESCISSION OR REVISION Switzerland: Springer, 2016. [Online] Available at: https://urn.nsk.hr/urn:nbn:hr:118:455617 [Accessed: 03 January 2025]

Metadata
Title (english)Can Financial Crisis Lead to the Application of the Institute of Changed Circumstances Under Croatian Law?
AuthorMaja Bukovac Puvača
AuthorGabrijela Mihelčić
MBZ: 289992
AuthorIva Tuhtan Grgić
Author's institutionUniversity of Rijeka
FACULTY OF LAW
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Law
Abstract (english)
The consequences of the global fi nancial crisis which began to manifest in Croatia during 2008 have not ended to this day. Doing business during the fi nancial crisis is signifi cantly hampered and imposes the need to devote special attention to the question of binding nature of a contract whose performance would be excessively onerous or would cause an excessive loss for one contracting party. Croatian law adopts the clausula rebus sic stantibus as a theoretical concept that defi nes the limits of attachment to a contract. Therefore, the consequences of the fi nancial crisis may be considered only within the framework of the general rule on variation or termination of contract in case of change of circumstances. Contracting parties may invoke on an event as a consequence of the fi nancial crisis as a changing circumstance only if all statutory requirements are fulfi lled. Hence, the authors provided analysis of statutory requirements for termination or modifi cation of the contract. Furthermore, the authors analyse the circumstances which the court should take into consideration when deciding on variation or termination of the contract, underlining the principle of good faith and fair dealing as the fundamental criterion by which the courts should be governed. Clausula rebus sic stantibus is an instrument of great importance, especially in the times of a fi nancial crisis, because its purpose is to maintain the proper balance between principle of pacta sunt servanda on one side with the principle of good faith and fair dealing and the principle of equal value of performances on the other side.
Keywords (english)
Languageenglish
Publication typeScientific paper - Original scientific paper
Publication statusPublished
Peer reviewPeer review - international
Publication versionPublished version
Publication titleEFFECTS OF FINANCIAL CRISES ON THE BINDING FORCE OF CONTRACTS - RENEGOTIATION, RESCISSION OR REVISION
Numberingpp. 83-100
ISBN978-3-319-27254-2
DOIhttps://doi.org/10.1007/978-3-319-27256-6_5
URN:NBNurn:nbn:hr:118:455617
Publication2016
ConferenceTitle: 19th Congress of the International-Academy-of- Comparative-Law
Location: Beč, Austria
Start date: 2014-07-20
End date: 2014-07-26
Assembly type: Lecture
Document URLhttp://bib.irb.hr/823289
Type of resourceText
PublisherSpringer
Publishing placeSwitzerland
Access conditionsClosed access
Terms of useLicence In copyright icon
Created on2019-05-07 12:32:57