Legal capacity of the minors

Legal capacity – the capacity to have civil right and bear obligations. Legal capacity of a citizen shall arise at the moment of his birth and cease with his death. In the case where legislative acts permit to marry prior to reaching 18 years of age a citizen who has not reached 18 years of age shall acquire deed capacity in its entire volume from the moment of entering into marriage. Partial deed capacity – minors from 14 to 18 years old.

What is violation of obligation?

The basis for liability is he violation by the debtor of his obligation before the creditor. Violation of obligation:

- failure to perform

- improper performance (performance not in time, performance with defects)

A debtor is bought to responsibility for the violations of an obligation at the demand of the creditor.

Methods of legal regulation of entrepreneurial law

Types of the responsibility on property

BOD

LLP

LLP is a corporate entity established by one or several individuals or legal entities, whether foreign or local, vested with its separate property, rights and liability.

Its partners bear the risk of losses associated with the activities of the partnership within the limits of the contributions made by themselves. LLP's charter capital is formed by combining contributions from founders/participants of the LLP. LLP is a commercial organization, whose objective is to carry out activities aimed at generation of profit and conducting any types of activities not contrary to the Kazakhstan legislation

Company’s secretary

An employee of a joint-stock company who is not a member of the board of directors or an executive body of the company,

The board of directors of the company is appointed and is accountable to the board of directors of the company,

Controls the preparation and conduct of meetings of the meeting:

(I) by the shareholder and

(Ii) of the Board of Directors of the company,

Provides information on the agenda issues:

(I) shareholder meetings

(Ii) materials for the meeting of the Board of Directors of the company

Controls the access to them.

Legal and deed capacity

Legal capacity – the capacity to have civil rights and bear obligations.

Deed capacity - the capacity of a citizen by his deeds to acquire and exercise the civil rights, create for himself civil obligations and fulfill them.

Legal capacity of a citizen shall arise at the moment of his birth and cease with his death (Part 2 of Article 13 of the RK Civil Code)

The capacity of a citizen by his deeds to acquire and to exercise civil rights, to create for himself civil obligations and to fulfil them shall arise in their entire volume when the citizen reaches the age of majority, that is, upon reaching of 18 years of age.

In the case where legislative acts permit to marry prior to reaching 18 years of age, a citizen who has not reached 18 years of age shall acquire deed capacity in its entire volume from the moment of entering into marriage.

All citizens shall have equal deed capacity, unless otherwise provided for by laws.

Structure of JSC

• JSC is a public company, legal entity which issues shares to raise funds for carrying out its activities.

• JSC is liable for its obligations to the extent of the value of its property.

• JSC's capital charter consists of its founders' payments for shares at their par value and payments from investors for JSC's shares placed at a securities market.

Property of the state enterprises

Property of the enterprise contains the basic funds and turnover means, values the cost of which is reflected in independent balance of the enterprise.

Property of the state enterprise is indivisible and cannot be distributed between employees of the enterprise.

The property of the state enterprise is formed on the basis of:

1) The property transferred to it by the proprietor;

2) Property (including monetary incomes), got as a result of own activity;

3) Other sources which are not forbidden by the legislation.

The state enterprises have no right to sell and conclude transaction of donation concerning the property fixed on the right of economic conducting or operative management, concerning the basic means, and also actions belonging to them.