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According to legal provisions laid down in article 1.350 of the Romanian Civil Code, any person bound by a contract must fulfill his obligations under that contract. The creditor is entitled to the full, exact and timely fulfilment of the obligations by the debtor based on the provisions of article 1.516 of the Romanian Civil Code. Also, according to the same legal provisions, unless performance is impossible, the creditor may still request that the debtor be compelled to perform the obligation in kind. As far as ...

The Romanian Civil Code entered into force in 2011 has stipulated, inter alia, a unified regulation of the private law, in line with the similar provisions of European law. Although it represents the common law in matters related to companies, the legal provisions governing in detail the companies are found in the Companies Law. Thus, these provisions lay down the types of companies, as well as their functioning and management. The joint stock company may be managed differently, either in the unitary system or the...