Ilija Zindović

LEGAL NATURE AND THE FACTORING CONTRACT RELATIONS

Summary

In this work the author considers legal nature an relations that rises from the factoring contract. He concludes that there is no generally accepted definition of this contract that would provide all the necessary elements and determine the legal nature of the contract. One is sure, and that is the fact that factoring has become unavoidable autonomous contract of Business Law. Its special field of applying is international banking transactions. Unlike the international aspect, where Convention on international factoring was adopted in 1988, in national legislations, this contract, as a rule, is not legally arranged, so in that case the rules on assignement-cession have been applied.

Key words: factoring, legal nature, cession, buying, claim.