This paper presents the new rules regarding the access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, as they are to be found in EU Regulation No 575/2013 and Directive 2013/36/EU, which define the legal frame of the new European Banking Union. The presentation takes into account the economical context which led to the European Banking Union’s project in the last three ...

The coming into effect of the new Civil Code meant, among others, the changing of the contractual paradigm based on the principle of autonomy of will. The principle of the contractual balance is the new coordinator of the life of the contract and its conceptual tools are lesion – as vice of consent – and unpredictability. Both institutions are designed to ensure harmony of the content of the contract: the first one, in the initial moment, of i...

Article 1170 of the Civil Code regulates the general obligation to act in good faith in the negotiation and execution of contracts. From the legal nature of the obligation good faith has important consequences in terms of sanctioning its non-compliance: this obligation does not follow the regime of non fulfilment of an obligation contractual, i.e. it does not activate in favor of the creditor the rights stipulated in article 1516 NCC. A distin...

In terms of obligations, in general, and contracts, in particular, the new Civil Code brings innovations, indeed, which will be widely discussed in the doctrine and will make the subject of jurisprudential disputes as well. The paper is an attempt to outline the novelty issues in relation to the general principles applicable to contractual good faith; we hope that, the briefer this is, the more enlightening it will be for jurists, given the fa...

Preliminary contracts belong to legal institutions which, in the Romanian legal system, have not been, until the publication of the Romanian New Civil Code, legally regulated by a particular law, the Old Civil Code or the Trade Code did not comprise stipulations which specifically regulate their legal nature and the effects that these „legal constructions” produce. The existent legal provisions did not focus on the pre-contractual phase, but ...

Public lending has both negative and positive aspects, especially if we are considering the conditions envisaged in the general terms of public lending contracts and the role of public lending in general. Often we can witness publicized “victory” of the government regarding successful contracting of a loan, of course without a special attention being accorded to the often harsh repayment terms included in the contract. Public loan...

There are traditional connections between the Italian and Romanian legal systems, including in the matter of corporate groups law. Within the substantial reform of the Italian Civil Code 2004 as of 2004, there were introduced legal provisions aiming to regulate the relations between the companies belonging to the same corporate group. Given that the Romanian legislation does not have such a regulation yet, we think a comparative approach with...

The authors of the study review one of the novel solutions implemented by the new Civil Code of Romania in the area of contractual obligations, namely the regulation of the unusual clauses. These are defined as a species of standard clauses and may be viewed in general as clauses which purport to alter the balance of the obligations of the parties resulting from the statutory regulation of contracts for the benefit of the party which proposes...

The objective of Dzodzi doctrine is to forestall future divergent interpretations of a provision of Union law in cases where the national law has adopted the same solution for the purely internal as for the cross-border situations. The first of the objections raised by Advocate General Cruz Villalón is that in cases where Dzodzi doctrine applies, Kleinwort Benson doctrine must simultaneously be applicable.

Open data is a hot topic in European Union in the past few years that raises a series of legal issues from different perspectives: copyright and related rights, personal data protection or re-use of public information. We are writing this article with the aim to overview the main legal problems related to open data from a Romanian legislation point of view, as well as a presentation of the relevant public policies on the topic, in order to bet...