A common practice among real estate agencies is the conclusion of so-called reservation agreements with parties interested in buying property – customers. As a rule, in such an agreement, the customer undertakes to conclude a (future) contract of sale with the owner of the property within a certain period, and to pay the real estate…

In 2011, the European Commission launched a public-private partnership project called Future Internet. The project intends to provide grants totalling EUR 500 million to help businesses and public administration bodies utilise the revolution in mobile internet and data and to expedite innovation and the creation of jobs in the European digital sector. The aim of…

The contractual fine is one of the most frequently used and most effective means of legal security in contractual relationships, which is currently governed by two laws, the Civil Code (hereinafter “CivC”) and the Commercial Code (hereinafter “ComC”). When to use the regulations of the Civil Code or those of the Commercial Code is not…

The Chamber of Deputies approved a government bill on the land register (Cadastral Act) on 17 May 2013, which, if approved by the Senate and signed by the President, should come into effect on 1 January 2014. In conjunction with the New Civil Code, the new Cadastral Act brings significant changes in relation to the…

Each year, the European Commission assesses project proposals under the eco-innovation initiative. It then selects the best projects, which it provides with grants for their realisation covering up to 50% of project costs. Grants totalling almost EUR 220 million have been provided to more than 180 projects to date and another almost 50 projects will…

The New Civil Code introduces a large number of changes into the Czech legal environment. One of the most significant of these is the introduction of a previously unknown institution in Czech law – the trust fund. A trust fund is a standard institution in Anglo-Saxon common law, where it is known as a trust,…

General business terms and conditions (hereinafter “GBTC”) are a standard part of business contracts that supplements the content of these contracts. In practice, situations may arise in which GBTC are changed by their author, often unilaterally. As a result, in its judgement of 27 February 2013, ref. no. 23 Cdo 1098/2012, the Supreme Court defined…

Government bill no. 502/2012 Coll., which amends Act no. 235/2004 Coll., on value added tax, as subsequently amended, and other related laws (hereinafter the “Amendment”) was submitted to the Chamber of Deputies last June. Following relatively radical changes proposed in the Senate it was passed by the Chamber of Deputies in its original form and…

The judicature to date regarding security transfers of rights has unequivocally supported the view that a security transfer of right pursuant to Section 553 of Act no. 40/1964 Coll. of the Civil Code (hereinafter the “CC”) is an agreement to transfer a right with a condition subsequent. When such condition is met, the original owner…

Modernization of EU anti-dumping instruments On April 10th, 2013 the European Commission submitted a proposal, no. 2013/0103 (COD), to modify the set of EU rules to combat unfair competition from dumping imports and imports of subsidized products. According to Council Regulation (EC) no. 1225/2009 protecting against dumping imports from countries which are not members of…