Právny obzor

1

Ročník 108

2025

 

 
T E O R E T I C K Ý  Č A S O P I S  P R E  O T Á Z K Y  Š T Á T U  A  P R Á V A

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Contractual Penalty and Damages in Commercial Law.

Prof. JUDr. Oľga Ovečková, DrSc., Institute of State and Law, Slovak Academy of Sciences, Bratislava

Právny obzor, 107, 2024, No. 6, pp. 613 – 632

Published online: 2024

https://doi.org/10.31577/pravnyobzor.2024.6.04

Abstract. This article examines the legal relationship between contractual penalties and compensation for damages in commercial law. It explores how contracting parties can negotiate terms to determine liability and financial consequences in the event of contractual breaches. The study highlights key aspects of contractual freedom and the legal limitations on damage claims. A particular focus is given to the lump-sum nature of contractual penalties and their function as a risk-mitigation tool in business transactions. The article also discusses the enforceability of contractual penalty clauses in Slovak commercial law and their compatibility with broader principles of contractual justice.

Key words: contractual penalty, compensation for damages, commercial law, contractual freedom, legal limitations

 

ISSN 2729-9228
(online)

ISSN 0032-6984
(print)

THEORETICAL REVIEW FOR ISSUES OF STATE AND LAW.

Právny obzor is peer-reviewed journal and is indexed in SCOPUS and HeinOnline database (INDEX TO FOREIGN LEGAL PERIODICALS).

 

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