The legal system of the simplified shares company "A study in French law"

Document Type : Original Article

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Faculty of Business Administration Studies - Arab Open University, Kingdom of Saudi Arabia

Abstract

Corporate laws are currently characterized by the return of the principle of the Sovereignty of will, which played a major role in the emergence of contracts and determining their effects. The adoption of an open market economy policy and economic openness had a great impact on restoring the role of will in establishing Companies, Which was What some European Legislation did, including the French Companies Law, Which recognized some Companies That embodied contractual freedom and the idea of the contract, including the simplified stock company. This Company is based on a main idea, which is the exclusion of the idea of legal regulation, the return of hegemony, the idea of the contract and the principle of the authority of the will. Despite the many advantages that this new form of company brings, it raises many lefal problems, which are due to the revolution that this company brought about in the French company law; The empowerment of partners to freely organize and manage it contributed to reviving the contractual nature of the company after the idea of legal organization of the company prevailed for a long time, Which contributed to some controversy between the jurisprudence about that company, in terms of its organization and management.

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