Considerations on the void or voidable agreement under Romanian law

Chirica Simona ()
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Chirica Simona: Bucharest University of Economic Studies, Bucharest, Romania, Schoenherr si Asociatii SCA, Bucharest

Proceedings of the International Conference on Business Excellence, 2020, vol. 14, issue 1, 1196-1205

Abstract: The concept of nullity under New Civil Code enacted on 1st of October 2011 has been amended. Thus, the New Civil Code brings more clarity and amends partially some of the former concepts of nullity and its legal regime. In this respect, new legal provisions have been enacted for the purpose of clarifying the nature and the effects, respectively the option to confirm/remedy or, to restore the null and/or voidable legal acts. The notary public becomes a new competence through which the nullity can be confirmed upon parties’ request. Such new procedure saves a lot of resources for the parties with no/low appetite to initiate and to be part of the court action. This paper aims to critically to analyze the novelties and to identify the upsides and the downsides which may incur in practice when implementing such new concepts.

Keywords: Nullity; void and voidable agreements; effects (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:poicbe:v:14:y:2020:i:1:p:1196-1205:n:112

DOI: 10.2478/picbe-2020-0112

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