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Promissory Note as Payment Security Instrument in the Republic of Croatia

Author

Listed:
  • Branimir Markovic

    (Faculty of Economics in Osijek)

  • Branko Matic

    (Faculty of Economics in Osijek)

  • Domagoj Karacic

    (Faculty of Economics in Osijek)

Abstract

In the modern world, a legal framework has been set up and a market regulator has been defined so that payment as a relation between the debtor and creditor can not be put in question regarding the realization of their integral rights. Countries in transition, including Croatia (the Republic of Croatia), are still trying to define not only the shortterm, but also the long-term regulators that would clarify all open questions both in the economic and in the legal segment. Promissory note as the payment security instrument has in practice become operative only through a consistent use of Distraint law. A theoretical and an implementation mechanism merge into one functional mechanism, on the basis of which it can be said that in this segment the Republic of Croatia has truly overcome the transitional barriers.

Suggested Citation

  • Branimir Markovic & Branko Matic & Domagoj Karacic, 2007. "Promissory Note as Payment Security Instrument in the Republic of Croatia," Interdisciplinary Management Research, Josip Juraj Strossmayer University of Osijek, Faculty of Economics, Croatia, vol. 3, pages 164-172.
    • Handle: RePEc:osi:journl:v:3:y:2007:p:164-172
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    Keywords

    promissory note; collection of claims; payment insurance; blank promissory notes; Distraint procedure; Distraint law.;
    All these keywords.

    JEL classification:

    • K2 - Law and Economics - - Regulation and Business Law
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • G3 - Financial Economics - - Corporate Finance and Governance
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • P4 - Political Economy and Comparative Economic Systems - - Other Economic Systems
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

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