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• Thoughts on the successions of the business shares

  János Dúl

  Views:

  93

  The article focuses on the successions of the business shares which are in the Hungarian limited liability companies. There are several changes because of the new Civil Code that affected this area although we have to examine the former regulation because of the period of validity, too.

  The succession law is the area of the law with whom every people has connection at least once in their life. The number of the legacies grows in which business shares can be founded because more and more people are participating in business societies.

  The new method of the regulation differs from the previous. The new Hungarian Civil Code (Act V of 2013) consists of not only the “classical” civil law (for example property law, law of contracts) but the family law even the business law. Before this there were two separate laws and because of this situation we have to examine the relation of these laws and their methods of regulations.

  Afterwards we study the state of the successors in the Hungarian limited liability companies. It diverges from the other companies because the limited liability companies are transitions between general and limited partnerships and joint-stock companies. There were more ideas how to regulate this company; at the end it has differences but not so significant.

• Family businesses and shareholders' agreements - possible links

  99-124

  Zoltán József Fazakas

  Views:

  97

  The concept of a family company is not defined in current law. In the case of companies in which members of a family have a decisive influence, it allows only a formal approach. However, in addition to the formal approach, the substance of the company, the specific nature of family interests and values, justify an examination of the company from other points of view, which allow not only the long-term commercial economic activity but also the specific nature of family relationships to be examined on the basis of company law. It is therefore of the utmost importance that family companies should reflect family relationships, the need to operate intergenerationally and protect the family nature of the company, and ensure the family's long-term prosperity. The combination of the formal and substantive elements makes it possible to conclude that family companies are special legal entities in which a particular family community has a decisive influence, has and represents specific interests and values, among which the protection of family assets, the aim of intergenerational operation and the safeguarding of the long-term well-being of family members are to be highlighted. The Civil Code provides for multiple means of achieving these interests, in addition to the classic instruments of company law, including the possibility of shareholders’ agreement.