In this paper we deal with, in terms of traductology and lexical semantics, analysis of legal terminology translation of the Multilateral Agreement between the European Community and its Member States, the Republic of Albania, Bosnia and Herzegovina, the Republic of Bulgaria, the Republic of Croatia, the Former Yugoslav Republic of Macedonia, the Republic of Iceland, TheKingdom of Norway, Romania, the Republic of Serbia and the United Nations Interim Administration Mission in Kosovo on the establishment of a common European aviation area as well as its accompanying legal acts in the form of implementation of the European regulations contained in Annex I of the aforementioned agreement into domestic legislation from French to Serbian in order to resolve all problems that an interpreter faces and offer solutions for overcoming them. As Serbia is in process of joining the EU, it is extremely important to harmonize legal regulations with its legislation, where language, as basic legal instrument, plays a crucial role in it. Therefore, the success of application and standardization of legal norms and regulations when concluding bilateral or multilateral agreements depends on correct translation. Starting from thes ituational (denotative) theoretical translation model and the principle of functional equivalence, we will pay special attention to types of semantic relations (monosemy, polysemy, synonymy) between French and Serbian legal terms.