Business law

Liquidated damages (penalty)

• are

  paid only if there

  is an actual damage

• are paid by the non

  -

  breaching party

• are paid even if

  there is no actual

  damage

• can be agreed by the

  parties

  only for delay

The goal of the bankruptcy (administration) is to

• re-organize the debtor company by making a settlement with creditors

• re-organize the creditors

• pay the creditors by selling the assets of the debtor company

• prepare the winding up of the debtor company

In company law the term ‘limited liability’ means that

• the directors of the company have limited liability towards the creditors

• the company has a limited liability towards its shareholders

• the company has a limited liability towards its creditors

• the shareholders of the company have limited liability towards the creditors

A company acquires legal personality when/by/if

• he share capital is paid in

• it issues the first invoice

• it is registered by the competent authority

• its first managing director is appointed

Which is not a condition of a lawful expropriation, under the rule of law?

• it must be made in the public interest

• it must be made only in exceptional cases defined by the law

• it can be made only once a year against the same private owner

• t must be made against full indemnity

A void contract

• does not exist

• is a crime

• is a tort

• is not legally binding

Shylock and Bassanio made a contract of

• partnership

• sale

• loan

• agency

You are in good faith if

• you do not breach a contract you are party to

• you know that the appearance does not correspond to the actual reality

• you know that the appearance does correspond to the reality

• you do (and should) not know that the appearance does not correspond to the reality

In case of the sale of a movable good the ownership is transferred in principle by

• the conclusion of the contract

• the handing over of the good

• the full payment of the price

• the full payment of the price and the handing over of the good

“Something” can be registered as a trade mark if it

• has a commercial value

• might have a commercial impact

• is capable of being represented graphically

• has already been used for more than 10 years