Contracts, Societies, and Cybersecurity: A Comprehensive Guide
Classified in Law & Jurisprudence
Written at on English with a size of 3.22 KB.
Contracts
A contract is a legally binding promise (written or oral) by one party to fulfill an obligation to another party in return for consideration.
Elements of a Contract
- Offer and Acceptance
- Consideration
- Intention to be legally bound
- Legal capacity
- Formalities
Societies
Civil Society
- Contract between two or more persons
- Obligation to contribute money or goods
- Profits shared among members
- No minimum capital
- Losses and profits distributed
- Minimum of two partners
Anonymous Society
- Dedicated to the exploitation of an economic activity
- Capital divided into shares
- Minimum capital of 60k
- Own legal personality
- Losses in proportion to contribution
- Quarterly VAT
Limited Liability Company
- Capital divided into equal parts, not shares
- Minimum capital of 3.5k
- Partners exempt