Trade Companies and their Classification
Trade Companies and their Classification

Summary/Abstract: The Romanian legislation does not define anyhow the concept of companies. It was the merit of the doctrine, which attempted such a definition, starting usually from the provisions of the Civil Code, which in art. 1491 defines the civil society, for the purpose of the memorandum of the association1. For that matter, also in the specialized foreign doctrine (ex. the French doctrine) companies are defined based on similar concepts, but standardized by the Civil Code2. The two meanings that the company has to be regarded through, also explain the very specific legal matter, a matter of concepts resulting from understanding the concept of memorandum of association and the company-institution. Thus, the contractual conception, imposed by the development of the contract theory in the last century, explains the existence of the companies starting from the validity conditions imposed to any contract and from the contractual techniques that establish the relationships formed within the society (for example, the company management is based on a mandate contract under which the executive operates)

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