The Reform of the Legislation on Commercial Companies

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My purpose is not to give a lecture, in order to bring teachings to my learned colleagues, but to ask their attention to a legal institute that I consider to be of the greatest relevance, such as that of commercial companies, whose regulation, despite valuable efforts to modernize it, has been relegated to oblivion.

Therefore, anyone who wants to study the structure and buy bulk sms israel functioning of commercial companies today will have to start with the legislation of 1850, that is, with our centennial Commercial Code, regarding partnerships in a collective name, capital and industry partnerships, partnerships in a participation account and limited partnerships.

If you want to organize a limited liability company, you will have to look for the rules in law no. 3,708, of 1919, which is quite deficient and outdated.

And, as for joint-stock companies, you will find the 1940 diploma (decree-law no. 2,627), modified in many provisions and supplemented by scattered legislation that is always difficult to handle.

Our legislation on commercial companies, particularly those that can be classified as joint and several liability companies (limited or unlimited), is old. However, it is fair to say that this has not prevented the creation of these types of companies, particularly those with limited liability for the partners, also known as quota companies .