Contractual penalty as a means of corroboration of a debt in business relations

Contractual penalty as a means of corroboration of a debt in business relations The theme of this Masterʼs degree thesis is the contractual penalty as a means of corroboration of a debt in business relations. The author has chosen this topic because the contractual penalty is a traditional private institution, which enjoys great popularity for its function and relative simplicity of negotiation in current practice. The contractual penalty improves a creditorʼs status. It makes a borrowers fulfil their confirmed obligation since in case of its violation, they would have to provide the creditor with performance representing both generalized compensation of the damage and a penalty. In spite of a frequent use of the contractual penalty, its legislation is rather brief and does not cover all problematic aspects. The relevance of the topic increased with recodification of the private law. The main aim of the thesis is to explore legislative changes and their impact on selected problematic aspects of the contractual penalty using chosen methodology. The thesis explains whether legislative changes solve existing problems of the contractual penalty or not, what new questions in the context of the a contractual penalty arise and to what extent the conclusions of judicial decision-making practices are still..