NIŠTAVOST VALUTNE KLAUZULE – OGRANIČENjE SLOBODE PRUŽANjA FINANSIJSKIH USLUGA I NARUŠAVANjE PRAVNE SIGURNOSTI

Abstract

The paper presents the legal provisions, the views of jurisprudence, as the opinion of the legal science, about the validity of the currency clause in the loan agreements. It is explained that the foreign currency clause is a foreign currency obligation of the borrower. The paper analyzes the uneven practice of domestic courts. Particular attention was paid to the Legal Interpretation of the Civil Department of the Supreme Court of Cassation on the validity of a foreign currency clause in a loan agreement in Swiss francs and a conversion of debt into the euro. It was pointed out the legal consequences of the nullity of this contractual provision. The ineffectiveness of the essential provision of the contract leads to a violation of the principle in favorem contractus. The author considers that the conversion according to the exchange rate that was valid at the time of the conclusion of the contract is a measure with a retroactive effect, which is contrary to the principle of legal certainty.