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</p> Signup and view all the answers

    Who are the participants in commercial law relationships?

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

    What is the primary activity of a profesionist?

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

    What does the article 3 of the Civil Code define?

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

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

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

    What regulates the economic activities of authorized individuals?

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

    What is the term for individuals who perform economic activities?

    <p>Profesionist</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</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</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</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</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</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</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</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</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</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</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</p> Signup and view all the answers

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

    <p>Loyalty</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</p> Signup and view all the answers

    What is the minimum value of an action?

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

    What is the main difference between actions and obligations?

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

    Who cannot have actions with dividend priority?

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

    What is the minimum value of an obligation?

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

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