Punitive Agreed Payments for Non – Performance and Other Exorbitant Payments Having Close Nature in Lithuanian Contract Law
Articles
Viktorija Budreckienė
Mykolo Romerio universitetas
Published 2019-05-20
https://doi.org/10.15388/Teise.2019.111.6
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Keywords

contract law
agreed payments for contractual non-performance
arbitral tribunal decisions

How to Cite

Budreckienė V. (2019) “Punitive Agreed Payments for Non – Performance and Other Exorbitant Payments Having Close Nature in Lithuanian Contract Law”, Teisė, 1110, pp. 112-129. doi: 10.15388/Teise.2019.111.6.

Abstract

[full article and abstract in Lithuanian; abstract in English]

The author of article “Punitive agreed payments for non – performance and other exorbitant payments having close nature in Lithuanian contract law” analyses the notion of punitive amounts agreed for contractual non – performance (Lithuanian term “baudinės netesybos”) presented in case-law and legal doctrine. Also, as such amounts are forbidden in current Lithuanian contract law, the author examines related issues – cases of recognition of foreign arbitral tribunal decisions awarding agreed payments for contractual non – performance when debtor requests for non – recognition due to punitive (exorbitant) nature of the awarded amount arguing that they are contrary to the public policy. The examples of case-law presented in this article allow to reveal the issues related to the qualification of such amounts.

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