THE BUSINESS AND THE PATRIMONY OF AFFECTATION
THE BUSINESS AND THE PATRIMONY OF AFFECTATION

Summary/Abstract: The patrimony of a professional-trader includes a “set” of assets used for its activity, assets that, depending on their nature, are tangible or intangible, movable and immovable, assets that are seen as a de facto universality, not a de jure universality. Thus, from the very beginning it is important to underline that the business cannot be mistaken for the patrimony. The essential difference is that the business does not include rights and obligations, but merely assets used for the activity that the professional carries out , while the patrimony includes all appraisable rights and liabilities of the professional (article 31 of the Civil Code). Under these circumstances the business is not identical to the patrimony of professional affectation which, in accordance with the Civil Code (article 31 paragraph 3 by reference to article 31 paragraph 1 and paragraph 2) is represented by the “fiduciary groups of assets, established according to the provisions of title IV of book III, those used for an authorized profession, as well as other patrimonies determined under the law”.

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