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The parties of fiduciary contract

Cornelia Lefter () and Gunay Duagi ()
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Cornelia Lefter: Department of Law, Bucharest University of Economic Studies
Gunay Duagi: Department of Law, Bucharest University of Economic Studies

Juridical Tribune (Tribuna Juridica), 2017, vol. 7, issue 2, 77-88

Abstract: The parties of the fiduciary contract in general, and the fiduciary in particular represent the “engine” that moves the gear of this innovative institution. This study is dedicated to the analysis of the most important aspects regarding the parties of fiduciary contract as they are briefly regulated by civil Code, both by reference to current national regulation and practice and by reference to international law and practice. On one hand, it is relevant that there are some restrictions imposed by the legislator on the fiduciary capacity and, on the other hand, there is a partial lack of correlation between the current legislation regulating the activity of the qualified subjects of the potential fiduciaries with the provisions of civil Code. At the same time, very useful regulations have been issued for some of the fiduciary categories (investment companies and lawyers) that facilitate their access to this institution and the use of fiduciary agreements in practice. However, in general, the lack of clarity and insufficient legislation, as well as unawareness by some potential beneficiaries of this institution, keeps the utilization of fiduciary contracts at a low level in practice.

Keywords: the parties of the fiduciary contract; settlor; fiduciary; beneficiary of the fiduciary contract; fiduciary-lawyer; Romanian civil Code. (search for similar items in EconPapers)
JEL-codes: K12 K15 K22 (search for similar items in EconPapers)
Date: 2017
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Handle: RePEc:asr:journl:v:7:y:2017:i:2:p:77-88