Abstract

Belonging to the sphere of business transactions, commercial contracts are characterised by certain specific features when compared to the classic contracts relative to the civil la w - civil, non-commercial contracts. These specific features are reflected in the appropriate rules applicable to commercial contracts, irrespective of whether the given legal system adopted the concept of uniform regulation of obligation relations (a single law provides for all obligation relations regardless of the status of the parties) or the concept of separate regulations (classic obligation relations are governed by one law, while commercial relations and business transactions are governed by another). In this regard, concluding and drafting commercial contracts requires familiarity with the legal rules relevant to this category of contracts, always taking into account their specific features, as well as drawing a distinction between these contracts and the ones that do not belong to the sphere of commercial law relations. The main purpose of this paper is to offer the reader an overview of the key distinguishing features of regulations governing commercial contracts in Serbian law. To this effect, the paper first presents the general legal framework relevant to commercial contracts in the Serbian legal system and then analyses the main specific features of commercial contracts, such as: duty of a higher level of care, assumption of jo in t and several liability, special rules for the contract of sale, loan contract, limitation periods, as well as certain rules on the right of pledge applicable to commercial contracts.

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