PASSING OF RISK UNDER THE DOMESTIC LAW AND THE UNITED NATIONS CONVENTION ON CONTRACTS FOR THE INTERNATIONAL SALE OF GOODS

Abstract

This paper elaborates the meaning that the regulation of passing of risk has in case of loss or
damage of goods in the contracts of sale of goods. The legal regulation of this matter allows for
more fluid and unambiguous resolution of disputes between the contracting parties in case of loss
or damage of the goods. The main area of research in this paper is the legal regulation of the
passing of risk, i.e. the legal settings of the passing of risk when this matter is not regulated
between the contracting parties. Therefore, the purpose of this research is to analyze the actual
legal norms that regulate this matter under the domestic law and the United Nations Convention
on Contracts for the International Sale of Goods, in the following text referred to as CISG. This
research is important because it allows for a direct comparison of the legal provisions regulating
this matter between a domestic source of law and an international source of law that has a
mandatory application in our country when the criteria's are met. The main hypothesis during
this research is that the regulation of the passing of risk in the domestic law and the CISG is
based on the same principles and there is no need for radical changes of the legal regulation of
this matter in the domestic legislation. Aiming to achieve structural research of the subject of
interest in this paper, firstly we analyze the regulation of the matter in the domestic law and
afterwards we elaborate the regulation of the matter under the CISG. The concluding chapter is
dedicated to sublimation and generating conclusions of the analyzed matters in this research
paper.