Commercial Law: Definition and Sources

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Questions and Answers

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)?

<p>To register certain types of companies at the registry of commerce (B)</p> Signup and view all the answers

Who are the participants in commercial law relationships?

<p>Professionals, natural persons, and legal persons (B)</p> Signup and view all the answers

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

<p>To combat unfair competition (C)</p> Signup and view all the answers

What is the primary activity of a profesionist?

<p>Exploiting an intreprindere (C)</p> Signup and view all the answers

What does the article 3 of the Civil Code define?

<p>The desfasurarea of an organized activity (B)</p> Signup and view all the answers

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

<p>It is a civil intreprindere (D)</p> Signup and view all the answers

What regulates the economic activities of authorized individuals?

<p>OUG nr. 44/2008 (D)</p> Signup and view all the answers

What is the term for individuals who perform economic activities?

<p>Profesionist (A)</p> Signup and view all the answers

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

<p>Monist system of private law (A)</p> Signup and view all the answers

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

<p>To oversee the activities of the directors and report to the AGA (A)</p> 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?

<p>The council of administration (D)</p> Signup and view all the answers

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

<p>The associates (B)</p> Signup and view all the answers

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

<p>The control of management is exercised by the censors in a unitary system and by the auditor in a dualist system (C)</p> Signup and view all the answers

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

<p>To manage the company's daily activities (D)</p> Signup and view all the answers

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

<p>The council of administration (B)</p> Signup and view all the answers

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

<p>5 (C)</p> 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?

<p>Societate de capitaluri (A)</p> Signup and view all the answers

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

<p>The presence of a board of directors (C)</p> 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?

<p>Their employment contract is suspended (C)</p> Signup and view all the answers

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

<p>Loyalty (B)</p> Signup and view all the answers

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

<p>The juridical person (A)</p> Signup and view all the answers

What is the minimum value of an action?

<p>0.1 lei (C)</p> Signup and view all the answers

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

<p>Parts of social capital have a more closed legal regime (B)</p> Signup and view all the answers

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

<p>Right to recover the value of the actions (D)</p> Signup and view all the answers

What is the main difference between actions and obligations?

<p>Obligations are more secure than actions (B)</p> Signup and view all the answers

Who cannot have actions with dividend priority?

<p>Directors and administrators (A)</p> Signup and view all the answers

What is the minimum value of an obligation?

<p>2.5 lei (B)</p> Signup and view all the answers

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