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Point to note when dealing with the company: the requirement to record in writing.

Point to note when dealing with the company: the requirement to record in writing.

Article 2:247 of the Dutch Civil Code contains the so-called ‘requirement to record in writing’: a written record must be made of legal acts between a limited liability company (‘BV’) and its sole shareholder in cases where the company is represented by this shareholder. An exception is made for legal ... Read More »

How to disclose multi-unit franchise offerings

How to disclose multi-unit franchise offerings

Multi-unit franchising is a good way to grow a franchise system quickly.  We now have guidance on how franchisors should present multi-unit franchise offerings. The North American Securities Administrators Association, Inc. (NASAA) adopted a Multi-Unit Commentary September 16, 2014.  Its message was this:  Starting in early 2015, registration states will not ... Read More »

Contract law and execution of contract under new law – part I

Contract law and execution of contract under new law – part I

This article includes the summary of some of fundamental changes and recommendations concerning the area of contract law and execution of contracts introduced by the new Czech Civil Code (the „NCC“). Regarding some other changes and principles of new laws, please refer to the previous article. 1. Contractual negotiations 2.1. ... Read More »

Fundamental principles of the new contractual law in the Czech Republic

Fundamental principles of the new contractual law in the Czech Republic

The new contractual law in the Czech Republic, which had been incorporated in one legal code (New Civil Code, the “NCC”), is based on the following fundamental principles: Principle of autonomous will According to this principle the parties may diverge from the statutory provisions to suit their needs, i.e. the ... Read More »

Ronald under fire: McDonald’s may be liable for franchisees’ actions

Ronald under fire: McDonald’s may be liable for franchisees’ actions

Large companies known as “franchisers” often allow “franchisees,” or smaller independent contractors, to use their trademark and distribute their goods or services for a fee. Most people are familiar with the franchise model in the fast-food in­dustry. Your local McDonald’s, for instance, is a franchise of the larger McDonald’s company. ... Read More »

Rule your own company!

Rule your own company!

On 15th March 2014 the new Civil Code of Hungary entered into force and it replaced the former Companies’ Act. The new Civil Code posed great challenges for the legal practitioners with its radical amendments a great amount of which affect the operation of companies. To begin with the most ... Read More »

FRC guidance on strategic report

FRC guidance on strategic report

On 9th June 2014, the UK Financial Reporting Counsel (FRC) published their ‘Guidance on the Strategic Report’ (Guidance). The Guidance replaces the ‘Reporting Statement: Operating and Financial Review’ published by Accounting Standards Board. The Guidance is persuasive rather than mandatory and its objectives are to: ensure that relevant information that ... Read More »

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