Professional Documents
Culture Documents
Commercial proxy should be granted in writing otherwise it will be invalid. Commercial proxy may be
and individual with full capacity for legal acts. An entrepreneur should notify the commercial register of
the granting and expiry of commercial proxy.
Business name- name which a business trades under for commercial purposes, although its registered,
legal name, used for contracts and other formal situations. It should differ sufficiently from the names of
other entrepreneurs conducting activity on the same market.
It cannot be misleading, particularly regarding the identity of the entrepreneur, its objects, place of
activity, or supply sources. There are also other requirements for business name for example The business
name of professional partnership shall contain :
- the additional words „i partner” („and partner”) or ” i partnerzy” („and partners”) or „spółka partnerska”
(„professional partnership”) and
The validity of a contract executed by a person with limited capacity for legal acts without the required
consent of his statutory representative depends on the contract being ratified by that representative.
Exceptions: A person with limited capacity for legal acts may, without the consent of his statutory
representative, execute contracts of a type commonly executed in minor current day-to-day matters.
Example: Eva goes to the grocery shop to buy bread
A person with limited capacity for legal acts may, without the consent of his statutory representative,
dispose of his earnings unless the guardianship court rules otherwise for good cause.
Example: summer job
If the statutory representative of a person with limited capacity for legal acts gives him specific property
items for unrestricted use, that person acquires full capacity for legal acts concerning these property items.
Example: birthday gift from parents
Differences
COMMERCIAL PARTNERSHIPS CAPITAL COMPANIES
It includes
3. Limited partnership
They are legal entities and also They are legal persons with legal personality2
Organizational units with no legal personality but
having legal capacity1
They have relationships with Third Parties and A legal person acts through its BODIES
Internal Relationships within the Partnership:
LLC and Joint-Stock Company:
we call them PARTNERS
- Management Board
- Supervisory Board3
- General Meeting of Shareholders
1
See art. 331 of Civil Code.
2
See art. 33-43 of Civil Code.
3
In relation to limited liability companies the supervisory board shall be created in companies whose
share capital exceeds 500,000 zlotys and where there are more than twenty-five shareholders.
LIABILITY LIABILITY
GENERAL RULE Subsidiary liability of the GENERAL RULE : The shareholders shall
partner : A creditor of the partnership may not be liable for the obligations of the
conduct execution from the partner's assets company5.
where execution from the assets of the
partnership proves ineffective.4
CONTRIBUTION
CONTRIBUTION
Financial (cash) contribution
Financial (cash) contribution
In-kind contribution
In-kind contribution
Inalienable right
SHARE CAPITAL
4
See art. 22 par. 2 and 31 par. 1 of Code of Commercial Companies in base LEGALIS.
5
See art. 151 par. 4 and art. 301 par.5 of Code of Commercial Companies in base LEGALIS.
- shall amount to at least 5.000 PLN
- the nominal value of one share may not be less than 50 PLN
FORMATION
LLC in organisation may acquire rights in its own name, to assume obligations, to sue and be sued.
2) Registration in National Court Register–it is the moment of creation of LLC (legal person)
The deed of LLC may also be concluded using a model deed. It is necessary to fill in a model deed made
available in the IT data transmission system and provide it with an advanced electronic signature or a
signature confirmed by trusted profile
BUSINESS NAME
It may be chosen freely BUT it shall include the additional words : „spółka z ograniczoną
odpowiedzialnością” („limited liability company”). The abbreviation „spółka z o.o.” or „sp. z o.o.” may
be used in business dealings.
ARTICLES OF ASSOCIATION OF LLC shall contain : - the business name and the seat of the
company, the objects of the company , the amount of the share capital a statement as to whether
shareholder may hold one or more shares, the number and nominal value of shares and the duration of the
company, if it is specified