Commercial Law: Definition and Sources

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Which of the following is a characteristic of the Romanian economy, according to the Constitution?

Economy based on a state-owned economy

Economy based on a mixed economy

Economy based on a free market economy (correct)

Economy based on a planned economy

What is the primary source of law for commercial companies in Romania?

The Civil Code

The Constitution of Romania

The Law on the Registration of Commerce

The Law on Commercial Companies (correct)

Which of the following is NOT a principle of commercial law?

The principle of freedom of contract

Good faith in trade relations

The buyer is always right (correct)

No one can invoke their own fault for non-performance of contractual obligations

What is the purpose of the Law on the Registration of Commerce (Law 256/2022)?

To register certain types of companies at the registry of commerce Signup and view all the answers

Who are the participants in commercial law relationships?

Professionals, natural persons, and legal persons Signup and view all the answers

What is the purpose of the Law on Combating Unfair Competition (Law 11/1991)?

To combat unfair competition Signup and view all the answers

What is the primary activity of a profesionist?

Exploiting an intreprindere Signup and view all the answers

What does the article 3 of the Civil Code define?

The desfasurarea of an organized activity Signup and view all the answers

What is the main characteristic of a non-commercial intreprindere?

It is a civil intreprindere Signup and view all the answers

What regulates the economic activities of authorized individuals?

OUG nr. 44/2008 Signup and view all the answers

What is the term for individuals who perform economic activities?

Profesionist Signup and view all the answers

What is the system centered around the notions of profesionist and intreprindere?

Monist system of private law Signup and view all the answers

What is the primary responsibility of the council of supervision in a dualist system?

To oversee the activities of the directors and report to the AGA Signup and view all the answers

In a unitary system, who is responsible for verifying and contributing to the preparation of the company's financial documents?

The council of administration Signup and view all the answers

In a company with 15 or fewer associates, who is responsible for exercising control over the management?

The associates Signup and view all the answers

What is the difference between the control of management in a unitary system and a dualist system?

The control of management is exercised by the censors in a unitary system and by the auditor in a dualist system Signup and view all the answers

What is the role of the directors in a dualist system?

To manage the company's daily activities Signup and view all the answers

Who introduces a request for insolvency of the company in a unitary system?

The council of administration Signup and view all the answers

What is the maximum number of companies in which a person can hold the position of administrator?

5 Signup and view all the answers

In what type of company can a person who is not a partner also hold the position of administrator?

Societate de capitaluri Signup and view all the answers

What is the main difference between the unitary and dualist systems of administering a societate de capitaluri?

The presence of a board of directors Signup and view all the answers

What is the consequence for an administrator who is recruited from among the company's employees during their term of office?

Their employment contract is suspended Signup and view all the answers

What is the primary obligation of an administrator towards the company they manage?

Loyalty Signup and view all the answers

Who can designate a person to manage a societate de capitaluri in the case of a juridical person?

The juridical person Signup and view all the answers

What is the minimum value of an action?

0.1 lei Signup and view all the answers

What is the main difference between actions and parts of social capital?

Parts of social capital have a more closed legal regime Signup and view all the answers

What is the benefit of being an action holder in case of liquidation of the company?

Right to recover the value of the actions Signup and view all the answers