Interest on monetary obligations: development of the construction

Author information:

Oleg Pecheniy
PhD in Law, Associate Professor, Associate Professor of the Department of Civil Law, Yaroslav Mudryi National Law University, Kharkiv, Ukraine
ORCID ID: https://orcid.org/0000-0003-1480-1864

Keywords: monetary obligations; money; good faith; penalty (liquidated damages); interest; contract; inheritance; inheritance legal relations; inflation; inflationary losses; protection; liability

Download PDF

This work is licensed under a CC BY-NC-ND 4.0.

Обкладинка. 10-й випуск

Abstract

The scientific article analyzes the main issues of the construction of interest on monetary obligations under modern conditions. The factors driving the dynamics of legal relations in which the construction of interest operates within the social environment and economic drivers are examined.

The author considers obligations and other legal relations from the perspective of their internal features, accounting for the specifics of interest and identifying particular traits and patterns of monetary obligations.

The article identifies the key social, economic, and legal issues surrounding the arising and termination of interest-related legal relations. The author determines the correlation between interest, inflationary losses, and other economic processes, including deflation.

The approaches of the Supreme Court to the application of Article 625 of the Civil Code of Ukraine were examined, particularly with regard to the accrual of annual interest and inflation losses.

The author substantiated the need to improve the methodology for calculating interest and inflation losses, particularly by taking deflationary processes into account and ensuring that their application complies with the general principles of civil law, foremost among them the principle of good faith.

Important elements of the general economic climate in which obligations operate are highlighted.

The article delineates the socio-demographic, economic, and technical-legal factors that exert an influence on legal relations, the challenges caused by them, and the outcomes of such impact.

How to Cite

In accordance with DSTU 8302:2015:
Печений О. Проценти за грошовими зобов’язаннями: розвиток конструкції. Цивілістична платформа. 2026. № 3 (10). С. 54-69. https://doi.org/10.69724/2786-8834-2026-10-3-54-69

According to the international style of APA:
Pecheniy, O. (2026) Interest on monetary obligations: development of the construction . С. P. Journal, 3 (10). https://doi.org/10.69724/2786-8834-2026-10-3-54-69 [in Ukrainian].

References

  1. Borysova VI, Spasibo-Fateeva IV and Yarotskyi VL (eds), Civil Law of Ukraine: Textbook, vol 2 (Yurinkom Inter 2004).
  2. Böhm-Bawerk E von, Capital and Interest. Volume I: History and Critique of Interest Theories (Wagner’sche Universitäts-Buchhandlung 1884).
  3. Böhm-Bawerk E von, Capital and Interest. Volume II: Positive Theory of Capital (Wagner’sche Universitäts-Buchhandlung 1889).
  4. Dziubliuk OV, Korneiev VV, Mishchenko VI et al, Theory and Practice of Monetary Circulation and Banking in Conditions of Global Financial Instability (FOP Osadtsa YuV 2017).
  5. Likhouzova TA (comp), Probability Theory and Mathematical Statistics: Lecture Course (Igor Sikorsky Kyiv Polytechnic Institute 2018).
  6. Pechenyi O, ‘Article 535. Increase in the Amount Payable to an Individual under a Monetary Obligation’ in Spasibo-Fateeva IV (ed), Civil Code of Ukraine: Scientific and Practical Commentary, vol 5: Law of Obligations(EKUS 2026).
  7. Pechenyi OP, Delay in the Performance of a Contractual Obligation (Rayder 2002).
  8. Pechenyi OP, ‘Concept and Classification of Monetary Obligations in the Context of the Provisions of the New Civil Code of Ukraine’ (2004) 4 Entrepreneurship, Economy and Law 35–39.