THE TRUSTEE'S OBLIGATION TO INFORM THE PRINCIPAL ON THE PROGRESS OF THE MANDATE. THE ACCOUNTING MANAGEMENT AND THE REPORT

Dana Tulai ()
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Dana Tulai: Political Economy Department, Faculty of Economical Sciences and Business Administration, Babeș-Bolyai University, Cluj-Napoca, România

Annals of Faculty of Economics, 2021, vol. 30, issue 2, 384-392

Abstract: This paper aims to bring to attention an issue which involves both economical and juridical aspects: agents' obligation to give an account to principals, derived from mandate contracts. The legal doctrine, both Romanian and European, has largely debated upon this aspect, particularly the form in which the accounting report must be given, as well as the possibility of tacit extempt from the obligation of the trustee to hand over the management account, in cases in which the contractual relations of the parties are based upon a high degree of trust. As shown in this paper, we believe that a genuine accounting report is required from agents only if the principals explicitly demand it. Also, since the legal provisions on the matter do not expressly impose any formalities for the completion of this report, we believe that it is the principals' decision to establish the form in which the trustees must hand over the accounts.

Keywords: mandate; accounting; report; management (search for similar items in EconPapers)
JEL-codes: K11 K12 K15 K22 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ora:journl:v:30:y:2021:i:2:p:384-392

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