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The article analyses the reasons and potential consequences of the abolition of the Commercial Code of Ukraine. It is noted that the Ukrainian legal system, like any other, must adapt to changes in society. Among the key factors influencing the need for changes are European integration processes and the consequences of the Russian-Ukrainian war. It also highlights internal problems and contradictions between different legislative acts that need to be resolved. The Commercial Code of Ukraine was adopted in 2003 to regulate economic relations between business entities and public authorities. It consisted of nine chapters covering various aspects of economic activity. Over time, shortcomings of the Code were identified, such as fragmentation of legal provisions and conflicts of consistency with other legislative acts. This necessitated its revision and improvement. It is emphasised that there are several approaches to solving the problem. Some experts believe that the contradictions between the Commercial and Civil Codes can only be resolved by cancelling the Commercial Code. Others are convinced that the Code can be modernised by removing contradictory provisions and harmonising it with other legislation. The abolition of the Commercial Code may lead to significant changes in the legal framework, create a period of legal uncertainty and cause problems for legal entities engaged in economic activity. However, it may also help to simplify the legal regulation of economic relations, making it more transparent and understandable for business entities in other societies. This can create the basis for the development of the business sector and attract investment to our country. It is important to carefully prepare for the abolition of the Commercial Code, ensure a smooth transition to the new legal framework and minimise possible risks to Ukraine’s economy and legal system. [ABSTRACT FROM AUTHOR]

The standardisation of European law occurred in rapid steps in the last decades. However, there is no code or uniform regulation of commercial relations that occur between subjects with an address or seat on the territory of the European Union. Such a regulation could significantly increase the process of economic integration and the dynamics of commercial exchanges. There are several initiatives, but the development of a European business code represents a titanic task. In addition, any approach in this sense requires putting on the table the real needs, obstacles and possible and alternative solutions. Without claiming to be exhaustive, the present study aims to start a serious research with practical effects in order to identify the problems of such an approach and to find effective solutions in the face of real impediments.

The rights and obligations of an executive as a top manager of a limited liability company seem to be a long-settled question. However, the opposite is true. We were particularly interested in the question of the rights and obligations of the manager as a statutory body of the most widespread type of business company. A very important issue is the definition of the relationship between the limited liability company and the manager. The reason for this is the fact that it is a business–legal relationship and the protection provided to the executive in relation to the business company is based only on their mutual contractual basis. In addition to the examination of managerial knowledge and skills, we focused primarily on a critical analysis of the legal definition of the rights and obligations of an executive and their responsibility towards a limited liability company. As part of our research, we analyzed extensive jurisprudence, which completed our understanding of the concept of an executive and also defined the framework of not only their actions, but especially their rights and obligations. To achieve our goal, we used several scientific methods designed for the study of law, such as analysis, synthesis, comparison, deduction, and description. We critically evaluated the results of our research and compared the development of Slovak and Czech jurisprudence in the context of its influence on the investigated issue. At the same time, we answered the research question of whether legislative intervention is necessary for the already existing rights and obligations of a manager in relation to their limited liability company. This analysis of the rights and obligations of the manager of a limited liability company has several implications for both managers and companies as a whole, such as managerial autonomy, accountability, responsibility, and the balance of power. The research findings highlighted the significant decision making authority granted to managers. The obligations identified in the analysis emphasized the need for managers to act responsibly and be accountable for their actions. The rights and obligations of managers need to be balanced with the interests of other stakeholders, particularly the company's members. In conclusion, the critical analysis of the rights and obligations of the manager of a limited liability company, based on the managerial legislative basis, revealed that managers possess decision making authority, profit distribution rights, limited liability protection, and entitlement to compensation. However, they are also obligated to fulfill fiduciary duties, comply with laws and regulations, maintain proper records, and exercise due care. The research underscored the significance of managerial autonomy, accountability, and a balanced exercise of power in a limited liability company. By understanding and adhering to their rights and obligations, managers can effectively navigate their roles while contributing to the success and sustainability of the company [ABSTRACT FROM AUTHOR]

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The Commercial Code of Iran (adopted in 1932) is the most important set of laws related to commercial affairs in Iran, which forms the basis of Iranian commercial law. The vast majority of Iranian jurists consider the law inadequate, overly incomplete, and vague. In this regard, and accepting the need for amendment, we review the trade bill that has been prepared for this purpose. Given the complexity of the topic, we will only look at the definition of a trader and business practices in the new bill, which is the foundation of the Commercial Code and distinguishes the trader from the non-trader. For this purpose, we first state the main goals of the bill and then examine the success or failure of achieving these goals. Finally, since e-commerce oversees the use of electronic communications in the business process and is a means of doing business, it is inevitable to refer to the corresponding concept in e-commerce law, the concept of "supplier". After analysing the issue, we concluded that by comparing Articles 1 and 2 of the current Commercial Code with Article 1 of the bill, the fundamental changes considered by the Office of Economic Studies of the Deputy Minister of Planning and Economy are not visible, so it cannot be considered a strength listed the innovations of this amendment.

The article sheds light on the data on Serbian codes of law revealed by the travelers who visited the Principality of Serbia. The travel writers provide the information on the earliest attempts to codify law in Serbia and the contents of latterly enacted codes. The authors shall present the accounts of the travel writers and give the answer to what extent they correspond to the truth.

Documentary letters of Credit are one of the most important payment methods used to facilitate international trade by mitigation of different risks connected with business partner or his country. Letter of credit transactions are relatively complexed and contractual relationship are governed by international rules and national laws. The aim of this scientific study is to identify legal aspects of letters of credit, to describe the relationship between parties of the letter of credit transaction and analysis the basic legal rules and laws governing these transactions. We used mainly classical scientific methods due to its descriptive character. We used the method of structured observation, determining the fundamental principles – the autonomy of letter of credit and the strict compliance, method of specification or concretisation – identification of relationship between parties and abstraction – definition of general and essential information about international rules and national laws of some countries.

With regard to the subject’s show up in the Civil Code, Commercial Code and the Act on Manner of Enforcing Pecuniary Convictions, there are different views and ambiguities about the legal status of kinds of bankrupt’s fictitious and with conspiracy transactions. Insight in contents of the related articles of above Acts shows that from the Legislature’s view transactions are not fictitious unless otherwise is proved. Fictitious transactions whether concluded by bankrupt or not are null and void. Non-fictitious transactions are divided into two categories of with conspiracy and without conspiracy. In this connection too, transactions are not with conspiracy unless otherwise is proved. Transactions with conspiracy would as well be null and void or derived from the Act on Manner of Enforcing Pecuniary Convictions in cases under its scope, revocable by the court whether concluded by the bankrupt himself or not; as well whether the bankrupt has concluded these kinds of transactions before or after interruption of payments. But transactions without conspiracy are principally valid though according to Act on Manner of Enforcing Pecuniary Convictions they may result in punishment of the person transacted for evading debt or harming creditors. These kinds of transactions may exceptionally due to other causes become revocable or null and void. The legislature has ultimately chosen the method selected in the Commercial Code with a little difference to apply in all cases in the Act on Manner of Enforcing Pecuniary Convictions. In general, the Legislator, contrary to the expectations, has not adhered complete coordination between the causes of bankrupt’s transactions nullity and the causes of culpable bankruptcy. [ABSTRACT FROM AUTHOR]

The employer’s decision on organizational change is subject of an amendment to the Labour Code, according to which this employer’s decision is a substantive precondition for the employer’s termination. The employer’s decision on organizational change is genetically linked to the termination as a basic legal act in the labour law. At this level, the employer’s decision on organizational change is of a fundamental importance for the area of termination in the labour law. The fact that the employer’s decision directly affects the validity of the termination is also related to the constitutional right to work as well as to the constitutional right to protect the employee from an unjustified dismissal. The Labour Code, at the same time, in § 63 par. 1 letter b) precisely enshrines not only the form of employer’s decision on organizational change, but also its content, and in § 9 it also establishes the persons authorised to act on behalf of the employer.

The rights and obligations of an executive as a top manager of a limited liability company seem to be a long-settled question. However, the opposite is true. We were particularly interested in the question of the rights and obligations of the manager as a statutory body of the most widespread type of business company. A very important issue is the definition of the relationship between the limited liability company and the manager. The reason for this is the fact that it is a business–legal relationship and the protection provided to the executive in relation to the business company is based only on their mutual contractual basis. In addition to the examination of managerial knowledge and skills, we focused primarily on a critical analysis of the legal definition of the rights and obligations of an executive and their responsibility towards a limited liability company. As part of our research, we analyzed extensive jurisprudence, which completed our understanding of the concept of an executive and also defined the framework of not only their actions, but especially their rights and obligations. To achieve our goal, we used several scientific methods designed for the study of law, such as analysis, synthesis, comparison, deduction, and description. We critically evaluated the results of our research and compared the development of Slovak and Czech jurisprudence in the context of its influence on the investigated issue. At the same time, we answered the research question of whether legislative intervention is necessary for the already existing rights and obligations of a manager in relation to their limited liability company. This analysis of the rights and obligations of the manager of a limited liability company has several implications for both managers and companies as a whole, such as managerial autonomy, accountability, responsibility, and the balance of power. The research findings highlighted the significant decision making authority granted to managers. The obligations identified in the analysis emphasized the need for managers to act responsibly and be accountable for their actions. The rights and obligations of managers need to be balanced with the interests of other stakeholders, particularly the company’s members. In conclusion, the critical analysis of the rights and obligations of the manager of a limited liability company, based on the managerial legislative basis, revealed that managers possess decision making authority, profit distribution rights, limited liability protection, and entitlement to compensation. However, they are also obligated to fulfill fiduciary duties, comply with laws and regulations, maintain proper records, and exercise due care. The research underscored the significance of managerial autonomy, accountability, and a balanced exercise of power in a limited liability company. By understanding and adhering to their rights and obligations, managers can effectively navigate their roles while contributing to the success and sustainability of the company

Article 1 of the Commercial Code of 1885 prescribes that: «They are merchants, for the purposes of this Code: 1°. Those who, having the legal capacity to carry out business, are habitually engaged in it. 2. The mercantile or industrial companies that are constituted in accordance with this Code». While the legal person, the commercial or industrial company, can always be classified as a merchant in our Law, when in the presence of a natural person, the attribution of the status of merchant to the latter raises some doubt. The present work aims to resolve this uncertainty by making a corrective interpretation of the aforementioned precept, the wording of which is imprecise. It has been reasoned and justified that being a trader does not always coincide with the exercise of trade and, thus, one can be a trader, without doing business and doing business without deserving the qualification of a trader. In this vein, the presence of the requirement of the exercise of trade in one's own name has been deepened. The implementation, in various Autonomous Communities, of the so-called Autonomous Registries of merchants has also been studied. [ABSTRACT FROM AUTHOR]

The article sheds light on the data on Serbian codes of law revealed by the travelers who visited the Principality of Serbia. The travel writers provide the information on the earliest attempts to codify law in Serbia and the contents of latterly enacted codes. The authors shall present the accounts of the travel writers and give the answer to what extent they correspond to the truth [ABSTRACT FROM AUTHOR]

Documentary letters of Credit are one of the most important payment methods used to facilitate international trade by mitigation of different risks connected with business partner or his country. Letter of credit transactions are relatively complexed and contractual relationship are governed by international rules and national laws. The aim of this scientific study is to identify legal aspects of letters of credit, to describe the relationship between parties of the letter of credit transaction and analysis the basic legal rules and laws governing these transactions. We used mainly classical scientific methods due to its descriptive character. We used the method of structured observation, determining the fundamental principles - the autonomy of letter of credit and the strict compliance, method of specification or concretisation - identification of relationship between parties and abstraction - definition of general and essential information about international rules and national laws of some countries. [ABSTRACT FROM AUTHOR]

The article exposes codification of commercial law in the Principality of Serbia. That process took place between 1849 and 1860. Its first phase, lasting from 1849 to 1853, commenced on Ministry of Finance's initiative. The comittee consisting of state officials and Belgrade merchants drew up a draft commercial code in 1851. Although the legislative body, State Council, primarily approved of codification, in 1853 it rejected the draft with motivation that the text had not contained the matter of commercial courts, that Serbian people as poorly educated would not be able to understand commercial code's complicated notions and that Serbian merchants were immature for codified commercial law. Commercial Comittee, the organization founded in January 1856 with the goal of proposing measures aimed to enchance trade in Serbia, requseted for introduction of commercial code the very same year. In the beginning of 1857 the Council formed the comittee tasked with revising the draft from 1851 and preparing drafts on organization of commercial courts and court procedure in commercial matters; all three texts were meant to become parts of commercial code. The composed draft had been sent to Commercial Comittee on 14 February 1859, which sent it back to the Ministry with its remarks on 8 October the same year. After the three-member committee formed by the Ministry of Justice on 24 November 1859 had somewhat altered the draft, the corrected version was consigned to the Prince. Commercial code had received the Prince's sanction on 22 December 1859 and entered into force on 26 January 1860, thus making Serbia one of the countries with codified commercial law. The cause for the codification doubtlessly lies in the trade between merchants of Belgrade and those from Austria that intensified subsequent to Revolution 1848. In these business relations Austrian merchants were using bills of exchange as security, which meant that their Belgrade partners were to be most punctual in fullfiling their contractual obligations. However, due to lack of commercial regulations and long-lasting civil procedure before Serbian courts, the merchants from the capital could not realize their own claims towards the debtors from the province and were consequently unable to collect money to settle their own debts. For that reason, from 1852 onwards Belgrade merchant were filing petition for enactment of Commercial code. Their petitions had ever more undersigneds, which may indicate that the problem was constantly becoming more serious. Nevertheless, only in the end of 1850s, when the lack of commercial code showed its palpable effects in province, was the code introduced.

The last decades were dominated by the idea that an authentic process to modernize the private law means generally the unification of it by renouncing the distinction between civil and commercial law. A few European countries and some American states or provinces followed this path of the unification. However, beyond the will to change and improve the system one may reflect if this kind of modernization is actually really proper. Of course, there are lots of reasons for unification and reasons against it. Is there a possible and real alternative to this wave of unification? The draft of the Spanish commercial code could be a beginning point in order to settle this controversy. For the first time, the lawmakers are trying to replace the actual code with a new modernized one without renouncing the above mentioned distinction. Without claiming that we have entirely analyzed the topic, we propose a brief critical presentation of the major key issue of the draft. [ABSTRACT FROM AUTHOR]

The last decades were dominated by the idea that an authentic process to modernize the private law means generally the unification of it by renouncing the distinction between civil and commercial law. A few European countries and some American states or provinces followed this path of the unification. However, beyond the will to change and improve the system one may reflect if this kind of modernization is actually really proper. Of course, there are lots of reasons for unification and reasons against it. Is there a possible and real alternative to this wave of unification? The draft of the Spanish commercial code could be a beginning point in order to settle this controversy. For the first time, the lawmakers are trying to replace the actual code with a new modernized one without renouncing the above mentioned distinction. Without claiming that we have entirely analyzed the topic, we propose a brief critical presentation of the major key issue of the draft.

The article exposes codification of commercial law in the Principality of Serbia. That process took place between 1849 and 1860. Its first phase, lasting from 1849 to 1853, commenced on Ministry of Finance’s initiative. The comittee consisting of state officials and Belgrade merchants drew up a draft commercial code in 1851. Although the legislative body, State Council, primarily approved of codification, in 1853 it rejected the draft with motivation that the text had not contained the matter of commercial courts, that Serbian people as poorly educated would not be able to understand commercial code’s complicated notions and that Serbian merchants were immature for codified commercial law. Commercial Comittee, the organization founded in January 1856 with the goal of proposing measures aimed to enchance trade in Serbia, requseted for introduction of commercial code the very same year. In the beginning of 1857 the Council formed the comittee tasked with revising the draft from 1851 and preparing drafts on organization of commercial courts and court procedure in commercial matters; all three texts were meant to become parts of commercial code. The composed draft had been sent to Commercial Comittee on 14 February 1859, which sent it back to the Ministry with its remarks on 8 October the same year. After the three-member committee formed by the Ministry of Justice on 24 November 1859 had somewhat altered the draft, the corrected version was consigned to the Prince. Commercial code had received the Prince’s sanction on 22 December 1859 and entered into force on 26 January 1860, thus making Serbia one of the countries with codified commercial law. The cause for the codification doubtlessly lies in the trade between merchants of Belgrade and those from Austria that intensified subsequent to Revolution 1848. In these business relations Austrian merchants were using bills of exchange as security, which meant that their Belgrade partners were to be most punctual in fullfiling their contractual obligations. However, due to lack of commercial regulations and long-lasting civil procedure before Serbian courts, the merchants from the capital could not realize their own claims towards the debtors from the province and were consequently unable to collect money to settle their own debts. For that reason, from 1852 onwards Belgrade merchant were filing petitions for enactment of commercial code. Their petitions had ever more undersigneds, which may indicate that the problem was constantly becoming more serious. Nevertheless, only in the end of 1850s, when the lack of commercial code showed its palpable effects in province, was the code introduced. [ABSTRACT FROM AUTHOR]