Summary international Trade

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Summary - international Trade

  • 1 belgian commercial Law

  • What is commercial law: (3 things)
    Legal rules that
    • determine the rights and duties of parties involved in trade and commerce
    • govern disputes arising from ordinary transactions between buyer and seller
    • settle issues concerning banking, insurance, real estate, transport etc. 
  • Give 3 examples of commercial law
    1. Commercial contracts
    2. commercial litigation
    3. distribution and competitive law
  • Give the 4 sources of commercial law:
    Legislation 
    jurisprudence
    customary law
    doctrine
  • What is legislation in commercial law?
    National and international law 
    bilateral and multilateral treaties 
    law of the EU: directives and regulations
  • What is jurisprudence in international law?
    Body of decisions by tribunal and court 
    binding between two parties 
    influential towards third parties
  • What is doctrine in commercial law?
    Articles written by lawyers 
    these are not binding but can have influence on jurisprudence.
  • What is customary law in commercial law?
    Historical roots 
    but very limited nowadays
  • 1.1 general requirements

  • What are the 6 general requirements for starting a company in Belgium?
    1. Enterprise database
    2. bank account number 
    3. VAT- number 
    4. social security number 
    5. acces to independent profession 
    6. bookkeeping 
  • Why is a bank account necessary for starting up a business in belgium?
    In the 50's people wanted to stimulate the use of credit money. 
    it should be on all your business documents
  • What is an enterprise database?
    This is used by companies to manage their huge amounts of data, it should help improve productivity and automise processes.
  • what is the difference in bookkeeping for small and big companies?
    For small companies it is a very limited entry, for big companies you have double entries accounting.
  • Acces to independent proffesion
    Don't know
  • Which 3 VAT differences are there for companies
    Small: exempt
    medium: quarterly turnover declaration
    big: monthly turnover declaration
  • Why is social security number important for companies and natural persons ?
    • companies:TAX!
    • natural persons: entitles to social protection, contributions
  • 1.2 setting up a company

  • What is the definition of a company? (4points)
    • Cooperation between one or more persons 
    • who agree to contribute goods or services 
    • to do business 
    • with the objective to provide a pecuniary advantage to the associates/shareholders
  • What are the differences in sorts of companies ? (3)
    • With or without legal personality 
    • with or without limited liability 
    • 'capital' vs ' persons' company 
  • Company with/without limited liabilty
    Companies with limited liability do not risk losing their personal belongings but can still get guarantees from the government and banks.
  • Capital company vs persons company, give me 3 differences
    Capital :great number of shareholders vs persons: small number 

    capital: focus on contribution of capital 
    persons: focus on cooperation/contribution of labour

    capital: shares are easy to transfer
    persons :  shares are not easy to transfer
  • Give me 5 eigenshappen of a limited liability company
    1. Focus on labour instead of capital, limited liability 
    2. no start-up needed , financial plan needed and sufficient patrimony
    3. shares cannot be easily transferred
    4. one or more administrators 
    5. ordinary (annual meeting) or extraordinary meeting 
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