1. 1 TOURISM & HOSP. LAW WEEK 2 LEGAL PERSONS, SOCIETIES AND BUSINESS ASSOCIATIONS

2. 2 LEGAL PERSONS PERSONS Natural Persons -Human Beings Personality starts with birth Legal Persons Personality separate from partners -Societies, business associations Fiction Theory Approval of the state. Not exist before. State may limit rights Realist or Organic theory Approval is not needed. Approval is not for formation but for recognition

3. 3 Ordinary Partnership - No legal personality - Simplest form of association - It may be formed for profit or non profit purposes - 2 or more persons come together for a common object - Each partner represent the partnership - Joint and unlimited liability to third persons

4. 4 SOCIETIES -At least 7 persons -Non profit purpose -They may operate commercial enterprises -May not engage in political activities -Permission of Council of Ministers required for foreign societies.

5. 5 Formation of Societies Prior authorization is not needed 7 or more persons prepare the by-law and submit it to the highest local authority. By law should be published in a newspaper within 15 days. Registration is necessary

6. 6 Capacity of Societies -Wide range of transactions, ownership of property -Capacity limited with purpose -Tortuous liability

7. 7 Organs of Societies 1. General Assembly: Formed by all members 2. Board of Directors: 3 persons elected by the general assembly 3. Contollers: 3 persons elected by the general Assembly