Key Legal Elements of a Business Partnership
Explicit Elements of a Company
- Social Nature: It must be organized according to one of the types provided by law.
- The Pool (Capital): The contribution required of each partner.
- Common Purpose: The objective for which the society is formed and exists.
- Participation in Profits and Losses: Partners must share in both the gains and the losses.
- Number of People: It requires the participation of two or more people for its formation and survival. The reduction to a single member is grounds for dissolution.
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Common EU Tax System for Associated Companies’ Interest & Royalties
EU Directive 2003/49/EC: Cross-Border Interest & Royalty Tax
This document outlines the key provisions of Council Directive 2003/49/EC of 3 June 2003, which establishes a common system of taxation applicable to interest and royalty payments made between associated companies of different Member States.
1. Directive Structure and Key Elements
The basic elements involved in this directive are:
- State of Origin: This is the state of the payer, which can be a company or a permanent establishment (all
Public Procurement Essentials: Contracts and Compliance
Understanding Public Contracts: Key Aspects
Public contracts are essential for government operations, covering a wide range of needs. This document clarifies various aspects of public procurement, from contract types to compliance requirements.
Key Areas of Public Contracts
Public contracts exist to cover various essential areas, including:
- Works (e.g., construction projects)
- General utilities
- Supplies (e.g., goods and materials)
- Consulting services
- Support services
- Other specialized services
Public Procurement
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Fundamentals of Business & Entrepreneurship
Free Market Economy
Individuals choose economic activities, while the state imposes regulations to control the economy. Price fixation is free.
Freedom of Enterprise
The freedom for private businesses to organize and operate for profit within a competitive system. There is no government interference, other than to protect public interest and maintain national economic balance.
- Freedom to choose business within legal frameworks
- Private property rights
- Free
Foundations of Indian Law and Justice System
The Judicial System: Framework for Law
A judicial system provides the framework for interpreting and applying law within a society. It ensures justice and maintains social order.
Key Components of the Judicial System
- Courts: These are the primary institutions for resolving disputes and interpreting the law.
- Judges: Impartial decision-makers who interpret the law and make rulings.
- Lawyers: Professionals who represent clients in court and advocate for their interests.
Functions of the Judicial System
- Dispute
Consumer and User Rights in Tourist Contracts
1. General Rules of Commercial Contracts and Their Sources
- General Provisions (Code of Commerce):
- Article 50: Business contracts, in all matters related to their requisites, amendments, exceptions, interpretation, extinction, and capacity of the parties, shall be governed in all matters not specifically set forth in this Code or in special Laws, by the general rules of ordinary Civil Law.
- Article 2: Acts of commerce, whether performed by business persons or not, and whether or not they are specified