The Importance and the Usefulness of the Concept of Stock and Trade within the Current Legislative Framework

The International Conference Education and Creativity for a Knowledge Based Society – LAW, 2012, Titu Maiorescu University, p. 5-14

10 Pages Posted: 8 Mar 2013 Last revised: 9 Apr 2013

Date Written: March 6, 2013

Abstract

In the heritage of the professional-trader, there is a “set” of goods intended to business, goods which, by their nature tangible or intangible, movable and immovable, are regarded as a fact universality (de facto) and not a legal universality (de jure).

Thus, from the outset, it should be noted that stock and trade cannot be confused with the heritage, the essential difference consisting in the fact that stock and trade not only contains rights and obligations but goods intended to business that is carried out by the professional person, while the assets include all rights and liabilities that can be quantified in money belonging to it (Art. 31 C. Civil).

Under these conditions, the stock-in-trade is not identified with professional dedicated assets, which, according to the Civil Code (Article 31 paragraph 3 and Art. 31 para. 1 and paragraph 2), is represented by the "fiduciary property masses, created under the provisions of Title IV III of the book, those intended to develop a licensed profession and other patrimonies determined by law ".

Keywords: stock-and-trade, dedicated assets, business, goodwill, heritage, company

JEL Classification: A1

Suggested Citation

Angheni, Smaranda, The Importance and the Usefulness of the Concept of Stock and Trade within the Current Legislative Framework (March 6, 2013). The International Conference Education and Creativity for a Knowledge Based Society – LAW, 2012, Titu Maiorescu University, p. 5-14, Available at SSRN: https://ssrn.com/abstract=2229207

Smaranda Angheni (Contact Author)

Titu Maiorescu University ( email )

22, Dâmbovnicului Street, sector 4, 040051
Bucharest
Romania

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