10 Questions
What is bankruptcy?
A legal process for distributing the property of a debtor to creditors
What are the general rules for debtor notification?
Notification must be through an official warning or registered letter with acknowledgment of receipt
In domestic jurisdiction, which court is generally competent to hear a dispute?
The court where the defendant's domicile is located
In commercial matters, which court may be competent to hear a dispute?
The court in whose district the agreement was executed
What is the purpose of notification in legal matters?
To remind debtors of their obligations
In commercial law, what does 'solidarity' of civilians with a commercial debt mean?
The payment of one civilian discharges the rest of the debtors.
What is the interest rate for delayed payment in commercial matters according to the legal rules?
4% in civil matters and 5% in commercial matters
When may the judge grant the debtor a grace period in commercial matters?
If the creditor agrees and no harm is caused to them.
What is the consequence of delaying payment in civil matters?
The debtor must pay 4% interest for delayed payment.
How does business activity differ from civil business according to legal implications?
Solidarity of civilians is one of the legal rules for activating the credit component in business activity.
Test your knowledge of legal implications of the distinction between business and civil business in commercial law. This quiz covers the rules for activating the credit component in business activities and more.
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