CONDITIONS GOVERNING THE EXERCISE OF COMMERCIAL ACTIVITIES BY PROFESSIONALS
CONDITIONS GOVERNING THE EXERCISE OF COMMERCIAL ACTIVITIES BY PROFESSIONALS

Summary/Abstract: The Romanian Constitution establishes that market economy in Romania is based on private property and is developed under the law of supply and demand. As such, the State has the obligation to ensure freedom of trade, protection of fair competition and to create an appropriate framework for the use of all factors of production. The Constitution also provides that the choice of profession should be free, and that the exercise of this freedom may be limited "only by law", with regard to the right to work. The operative principle in relation to commercial activities is the freedom of trade, according to which anyone is free to exercise a commercial profession, provided they respect the limitations and the special conditions prescribed by law. As regards the conditions governing the exercise of commercial activities, the law establishes certain conditions on the capacity of individuals to conduct economic activities, also establishing certain incapacities, as well as incompatibilities, forfeitures and bans on making trade. The law sets specific conditions regarding the capacity of individuals to conduct commercial professional activities, but it also establishes some incapacities to provide shelter from adverse consequences to some persons.

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