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Theoretical and Applied Economics
No. 11 / 2011 (564)

Dissolution of the Commercial Companies due to the Passing of Time Established as a Duration of the Company – Theoretical and Practical Aspects

Cornelia LEFTER
Bucharest Academy of Economic Studies
Ovidiu Ioan DUMITRU
Bucharest Academy of Economic Studies

Abstract. At the creation moment of a commercial company, the partners have the obligation, according to Law of commercial companies, to establish its functioning duration. This duration can be limited or unlimited. The fulfillment of the time for which the company was established imposes its legal dissolution. This kind of dissolution produces specific effects that, during the time, have made the object of theoretical and practical controversial debates that we try to explain here.

Keywords: dissolution de jure; voluntary winding up; commercial companies; duration of the company’s existence; duration prolongation.

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