Resolve Contractual Disputes in Montenegro
Resolve Contractual Disputes in MontenegroUpdated on Sunday 10th December 2017
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Contractual disputes can appear when the individuals who are involved in a contract do not abide by their original agreements. Arbitration represents a method of alternative dispute resolution, by which the disputes are resolved outside the courts. In this article, our lawyers in Montenegro explain a few important aspects related to resolving contractual disputes in Montenegro.
Methods of resolving contractual disputes in Montenegro
According to the Law on Obligations, a contract dispute resolution in Montenegro implies that the parties to a contract have to attempt to settle disputes through mutual adjustment, mediation or in some other form of peaceful methods.
The above-mentioned law draws up the legal conditions taken by any party when signing a contract with a company in Montenegro.
When entering any type of a contractual agreement, it is highly recommended that you seek the advice of a professional law firm in Montenegro.
Types of contracts in Montenegro
Depending on certain circumstances, there can be different types of contracts which can be signed by companies and individuals in Montenegro, which is an important aspect related to settling contract disputes in Montenegro:
• Commercial contracts: they can be concluded by companies in Montenegro, other corporate organizations conducting economic activities, as well as by persons who act as sole traders in certain sectors of the local economy. The equity principle represents the main foundation for all commercial contracts in the country;
• Sale contracts: this type of contract has to be about a trade and it can also relate to a future good. According to the Commercial Law in Montenegro, any sale contract must enlist a certain price for the good which will be sold. Such a contract does not have any legal effect if the good price is not determined. If you want to buy or sell a certain product, be it a property or a company, our lawyers in Montenegro can help you draw up the sale contract or to analyze and vet such a contract, to eliminate all risks which may be involved;
• Other contracts: we can offer you further details on what these other contracts may consist of.
In case you need to know more about resolving contractual disputes in Montenegro, or for assistance related to this subject, we kindly invite you to contact our Montenegro lawyers.