Trade Companies and their Classification

Abstract

The Romanian legislationdoes not defineanyhow the concept of companies. It wasthe meritof the doctrine, which attemptedsuch a definition, starting usuallyfrom the provisions ofthe Civil Code, which in art.1491defines the civil society,for the purposeof the memorandum of the association.For that matter, also in the specializedforeigndoctrine(ex. theFrench doctrine)companiesare definedbased onsimilarconcepts, butstandardizedby the Civil Code. The twomeanings that the companyhas to beregarded through, also explain theveryspecificlegalmatter, a matterof conceptsresulting from understanding the concept of memorandum of association and the company-institution. Thus, the contractualconception,imposed by the development of the contracttheoryin the last century,explainsthe existence of the companies starting from thevalidityconditionsimposed toany contractand from the contractualtechniquesthat establish the relationshipsformedwithin the society(for example, the companymanagementis based ona mandatecontractunder whichthe executive operates).