As follows from the definition of a company, in contractual terms, a company is constituted by the conclusion, by two or more persons, of a contract (memorandum of association) which must meet all the substantive requirements for the validity of a legal act: consent, capacity, object and cause.

Law no. 31/1991 regulating the companies sets a different liability of the shareholders depending on the type of company and, therefore, the status of the shareholder in a certain type of company is directly linked with a certain degree of personal liability of that company.From this point of view it is important to determine if the associates can derogate from these legal provision and grand themselves, through the Articles of incorporat...

In a comparative approach the paper deals with share repurchase as a manner of profit distribution and corporate governance dilemmas raised when a company elects this method for profit distribuiton. In case of American companies, share repurchases are a common practice, but it is arguable that it is able to ensure a fair treatment among different categories of shareholders and between shareholders and stakeholders. A fraudulent utilisation of sh...

A thorough analysis of German law in the field of personal liability of administrators and associates of insolvent companies. By means of this article, the author wishes to bring into attention of all readers relevant legislation, doctrine and jurisprudence in the field of insolvency from a highly developed economy such as Germany. Analyzing the most recent legislative innovations brought upon the German system by reforms can offer insight into...

In a previous article, we have analyzed the provisions of Law No. 182/2002 on protection of classified information, and its implementing norms, in order to outline the cases when, in a too easily manner, the access to public information is restricted by a simple unilateral decision to classify information, made by a public authority or institution.Under this article, we will explore the difficulties that at this moment exist in relation...