“Delivery to a different account of the creditor than agreed upon still constitutes due fulfillment, provided the creditor does not object within a reasonable period of time.” This is precisely the conclusion recently drawn by the Supreme Court of the CR in its judicature. In particular, this involved SC CR judgment ref. no. 31 Cdo…

In 2009, the Slovak Antitrust Authority (body for protecting competition in the Slovak Republic, hereinafter referred to as the “Authority”) imposed a fine of over ten million euros on three major Slovak banks – Československá obchodní banka a.s., in the amount of EUR 3,183,427, Slovenská sporiteľna, a.s. (hereinafter referred to as “Sporitelna”), in the amount…

From the first of January, the New Civil Code (NCC) will eliminate the dual regulation of contracts for work, which was hitherto unique in the context of European legislation. A single set of legal regulations will newly apply to contracts for work, whether these are based on commercial or non-commercial relationships. Under the New Civil…

In its ruling on case no. 32 Cdo 4470/2010 of 28 November 2012, the Supreme Court addressed the issue of leasing another party’s property and the lessor’s resulting obligation to surrender unjustified enrichment or compensate the owner of said property. In the case in question, a construction company (contractor) had built residential units for a…

On 19 February 2013, the Chamber of Deputies passed a bill concerning certain measures to increase the transparency of joint-stock companies and amending certain other acts (hereinafter referred to as the “Act”). The Act includes the requisite amendments of the Commercial Code, the Securities Act, and the Act on Engaging in Business on the Capital…

Lien is a very frequently used institute of law, by which a creditor can achieve a substantial securing of his receivable. The new regulation according to Act No.89/2012 Sb. [Coll.] of the Civil Code (hereinafter only referred to as „NCC“) will be fundamentally different. The method of settlement from the pledge according to the current…

At the beginning of December 2012 the European Parliament and the EU Council passed the so called “patent package” which aims to simplify, streamline and reduce the price of patent protection in the European Union. It is anticipated that the first European patents with unitary effect could become operational in as early as the first…

The Supreme Court of the Czech Republic (NS CR) finally decided the hitherto unresolved question that may arise in case of issuance of a qualified call along with a judicial payment order in the judgment under ref.no. 23 Cdo 4311/2011. It is a relatively frequent phenomenon that courts issue payment orders with the so called…

On the first of January last year, the Czech Republic took another step towards convergence with legal orders of developed countries of the EU by adopting an act on criminal liability of legal entities. The new law also places considerable demands on companies undertaking business within the scope of activities permitted by law, especially on…

As from January 1, 2014 the new Civil Code (referred to as NCC) introduces a substantial innovation to assignment of claims and obligations, and thus the possibility to easily assign any and all rights and obligations of unfulfilled contract to another person without the necessity to make a new contract. ‘Contract assignment’ under the existing…