Considerations concerning the functioning of the simple company

Abstract

This approach proposes an analysis of the legal rules applicable to the simple company, especially emphasizing significant issues concerning its functioning. The utility of such an approach is obvious, at least given the fact that, according to the legislator's express option, the rules on the simple company constitute the common law in relation to companies, being applicable in the silence of the special law regulating other forms of companies. The main characteristic of the simple company is that this form of company has no legal personality. Therefore, the simple company contract produces juridical effects between associates, and even towards third parties, but it does not create a new legal person distinct from its members. This aspect implies significant particularities in relation to the rules that govern the functioning of the simple company, as emphasized below.

Keywords

• simple company
• functioning
• parts of interest
• the rights of the associates
• administration