The Commercial Code: laws governing economic and commercial activities

By werdt04/06/2022566 Views

Article lawyer Commercial contracts, contractual clauses

ParFabienne SEVE-CHAUSSEE, Avocate-Modifié le 27-09-2019- blog: Maitre Fabienne SEVE-CHAUSSEE

The French Commercial Code is part of private law, one of the two branches of French law. The law governing all enterprises that derive profits from their industrial and commercial activities can be found in the Commercial Code. France has a legal system of civil law, influenced by the Civil Code, also known as the Napoleon Code.

Commercial law is used to govern the relationship between individuals and businesses, commercial activities, commerce, sales and goods. The Commercial Code lays down the important obligations of all traders, such as the compulsory keeping of accounting records, the requirement of publicity and the procedure of liquidation.

What does the Commercial Code contain?

The Commercial Code is divided into several books that regulate various aspects of trade:

Commercial activities in France

Le code de commerce : des lois qui régissent les activités économiques et commerciaux

According to the definition of the Commercial Code, commercial instruments in France are all purchases of real estate, movable property and any other action concerning their resale, manufacturing and transport activities, by land or water, brokerage and exchange operations, public banks. Also included in commercial activities are the purchase and sale of food, shipments by sea and other activities related to commercial vessels and trade by sea. Foreign investment and trade in France are regulated by chapter II of the first book.

The Business Register in France

One of the most important chapters of French commercial law concerns the creation of a commercial register in which information on all traders is kept. The following mandatory elements must be registered with the commercial register in France:

The agreement to set up a business in commercial law

The Commerce Act also provides for the documents that must be deposited in the commercial register in order to be able to set up a business in France. This is the constitution agreement, or memorandum, and the statutes. These must contain provisions on the shareholders and the shares they hold in the corporation. The Commercial Law also contains provisions on the distribution of shares in the event of a change in the capital of the company.

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Master Fabienne SEVE-CHAUSSEE

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