ownership Flashcards
- What rights do associates in a general partnership have?
o Voting, receiving documents, requesting company information, and participating in profits.
- What are the duties of associates in a general partnership?
avoid competing activities, share losses, and manage the company’s funds responsibly.
- What is the liability of general partnership associates?
o Unlimited and joint liability for the company’s operations.
- What happens if an associate breaches competition rules?
o The associate may be excluded, and the company can claim damages.
- How are managers elected in a general partnership?
o By associates holding the absolute majority of registered capital.
- What distinguishes active partners in a limited partnership?
o They can represent the company and participate in management.
- What distinguishes passive partners in a limited partnership?
o Limited to their contributions unless they interfere in management.
- What are the two management systems in joint-stock companies?
o Unitary and dual systems.
- What is the quorum for general meetings in joint-stock companies?
o Attendance representing at least 1/4 of the registered capital for the first convening.
- What decisions are made in extraordinary general meetings?
o Mergers, capital increases, changes in legal form, and other major modifications
- What are preference shares?
o Shares offering priority dividends but no voting rights.
- What limits exist on a company owning its own shares?
o Limited to 10% of registered capital for a maximum of 18 months.
- What is the role of the Supervision Board in a dual management system?
o Oversees the Directorate, which handles executive functions.
- What are bearer shares?
o Transferable by simple delivery without formal registration.
- What is the function of bonds in a joint-stock company?
o Debt instruments that entitle holders to interest payments.
