On 11 March 2020, the Law on Amendments and Supplement to the Law on Contracts and Torts enters into force (hereinafter referred to as: the “Law”).
The main novelty foreseen by the Law is that, for the validity of the consent or power of attorney given to conclude an agreement or to undertake other legal work in the form of a solemnized document or notarial deed, it is sufficient that the signature on the given consent or power of attorney is certified.
In addition, unlike the earlier solution which explicitly provided that a real estate purchase agreement must be concluded in writing, the Law now refers to the implementation of the Law on Real Estate Transfer which regulates this issue in more detail.
Disclaimer: The text above is provided for general guidance and does not represent legal advice. Copyright Cvetkovic, Skoko & Jovicic 2020
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