According to Romanian National Bank Regulation No 18/2009 regarding the administration of credit institutions activity, the internal process of evaluation of the capital adequacy to risks and the prerequisites of outsourcing their activities as well as according to Basel Committee on Banking Supervision.Internal control is a continuous process, set up for providing a reasonable insurance that the performance objectives of the bank are m...

The first part of this article represents a general inquiry concerning double taxation and its avatars on the global market. First, it shows the mechanisms and phenomena which made double taxation a world-spread economical “evil” and the subtle ties which bind it to the concept – and reality – of tax competition. In this context, we present the historical genesis of double taxation – starting with its medieval roots – and indicate a taxonomic ...

This brief essay gives an overview of the types of professional legal writing and proposes a taxonomy of professional legal writing în Romanian law. The essay also provides ample exemplifications and descriptions of different types of documents drafted by attornery în their professional activities.As legal writing is a matter not studied în any systematic way în the Romanian Law Schools, the author argues for its inclusion while attempt...

Leasing contracts are useful tools for many companies in regard to their activity. Easy to complete and often containing credit conditions more relaxed than the conditions needed in obtaining a bank loan, these agreements are included in the trade funds for a significant number of companies that go insolvent.

The dispositions related to simulation under the New Civil Code (art. 1289 and the next, the New Civil Code) are applicable to the company as follows: the parties conclude a public and false act – the company contract – which conceals another secret and real act, the only act binding the parties, but not opposable to third parties; but the third parties can take advantage either of the public act, or of the secret one, as their interest dicta...

Since the activity of the company depends on the conduct of the associates and the manner in which they perform their statutory and legal duties, Law no. 31/1990 regulated the exclusion of the associates under certain circumstances for the purpose of protecting the company, but also the interests of the associates.Exclusion is a sanction against the associate who does not perform certain duties or causes a certain prejudice to the compan...

This article discusses the legal situation of the debtor who made a promise to sell movables or immovables prior to her subsequent judicial declaration as bankrupt, and of the creditors who made a promise to buy such goods. Taking in consideration all the „innovations” introduced in the Romanian Law in recent years, it argues that the non correlation of the dispositions of various recent legislative enactments, among which predominantly figure...