Business Law Summaries

Business Law Summaries

• Groundless Enrichment: If a person benefits from another's expense without justification, the enriched person must return the value of the benefit.

• Damage Redress: Compensation for damages is decided upon by the aggrieved party, not the perpetrator. Damages should ideally restore the previous condition or compensate with an equivalent sum.

• Tort Liability Conditions: Tort liability is not contingent on unlawful damage, causal relationship, or fault.

• Tort Liability: Tort liability is based on fault but not always.

• Sales Contracts: Sales contracts typically transfer ownership of the good in question to the buyer. However, if the good is a "fungible", the buyer receives ownership right away.

• Real Estate Contracts: Contracts for transferring ownership of real estate in Poland typically require a notarial deed.

• Unjust Enrichment: If someone profits unfairly at another's loss, they have a legal obligation to return the benefit.

• Contract Performance If a creditor demands execution of a personal performance by the debtor, the creditor must have justification for demand from established laws, nature of said performance, or the contract.

• Co-Ownership: Each co-owner can dispose of their share with the remaining co-owners or authorized court approval.

• Legal Declarations: If a declaration of intent is required to be notarized, and it is not, the legal act can be null and void.

• Creditor Demands: Creditors can demand a performance from debtors if justified by law, contract or performance's nature.

• Debtor Releases: Debtors can release themselves from obligations but only with creditor consent.

• Due Diligence: Debtors are obligated to act with a level of diligence appropriate for the specific situation and relationship.

• Payment Methods: If a contract obliges payment of a sum of money, the payment is based on the contract unless there are specific exceptions.

• Impossibility of Performance: If an act becomes impossible to perform due to circumstances beyond the debtor's control, the obligation might be nullified, expire, or terminated.

• Damage Compensation Methods: Compensation for non-monetary damages might involve payment of a specified sum.

• Shared Liability: If several persons cause damage through a tort, their liability can be either individual or joint.

• Debt Rescission/Set-off: Where two individuals are both creditors and debtors, they may potentially cancel out reciprocal debts.

• Third-Party Involvement: A third party can take over the debtor's obligation if the third party receives proper authorization.

• Partnership Representation: A partnership is typically represented by a specific group of individuals (e.g., General partners, Management board, or Shareholders).

• Shareholder/Partnership Liabilities: Liability of partners/shareholders are defined depending if the agreement is a limited or unregistered partnership. Limited liability protects the personal assets of the partners from business debts. If the partnership is an unregistered partnership or individual owners, personal liabilities can be unlimited.

• Legal Person: Entities such as limited liability companies, have legal personality and capacity to create contracts unlike an unincorporated partnership.

• Entrepreneur Representation: Entrepreneurs are generally required to operate under a trade name, which may be different if they are individuals versus registered business entities.

• Warranty Liability: The seller is accountable for faults in the sold item at the time of transfer to the buyer, unless those faults are contingent on factors in the sold item itself.

• Displaying Goods: Displaying goods with price indications is generally considered an offer of sale.

• Contract Obligations: Contracts have a required method of execution (written/notarized deed) for certain circumstances.

• Remuneration: Compensation for work is usually determined and paid according to the contract terms.

• Time of Payment: If a contract doesn't specify the payment date, payments are made according to a defined period (month, contract, etc.).

• Legal Acts of Minors: Minors under 13 are typically not liable for damages.