PUBLIC POLICY AND ITS ROLE IN CONTEMPORARY CIRCUMSTANCES

Abstract

The paper deals with the issue of a public policy, predominantly
as an instrument in the area of Private International Law, though it can be used
in other fields of law. Describing the origin and a role of a public policy as a
protecting mechanism in the process of application of foreign law, applicable
under conflict of laws rules, in the process of recognition of foreign judgments
and arbitral awards, as well as a mechanism for refusing to provide international
legal assistance, the author contemplates about the role and place of this
institute in contemporary world, when the differences between the national legal
systems rarely can be seen as insurmountable obstacle for their application.