Legal English
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Module exam: Corporate and Commercial Law
16 questions · pass mark 70%
1. What does "corporation (S.A.)" mean?
Company whose capital is divided into quotas.
The founding document of a company (pacto constitutivo).
Company whose capital is divided into shares.
2. Which term matches: "The capital contributed by shareholders."
legal representative
limited liability company (S.R.L.)
share capital
3. Where must beneficial owners be registered?
At the municipality
In the Central Bank's RTBF registry
With the notary only
4. The ___ representative signs on behalf of the company.
lawful
legal
legally
5. What does "shareholders' meeting" mean?
The minimum attendance required for valid decisions.
Meeting of company owners (asamblea de accionistas).
A formal decision of a meeting.
6. Which term matches: "The official record of a meeting."
minutes
legal books
quorum
7. What percentage of capital was present?
100%
80%
51%
8. It is ___ that Ms. Quesada be appointed President.
resolved
resolute
solved
9. What does "Free Trade Zone" mean?
A special regime granting tax and customs incentives.
Contract where a distributor buys and resells products.
The right to be the only one in a territory or market.
10. Which term matches: "The geographic area covered by a contract."
territory
distribution agreement
minimum purchase
11. What happens if the minimum is not met?
The contract ends automatically
The price drops
The appointment may become non-exclusive
12. The plant operates under the Free Trade ___ regime.
Zona Law
Zone
Area act
13. What does "beneficial owner" mean?
Acting in accordance with laws and regulations.
The natural person who ultimately owns or controls a company.
A monetary penalty.
14. Which term matches: "Status of a company that is up to date with obligations."
dormant company
good standing
compliance
15. What is paid in January?
Annual tax on legal entities
RTBF declaration
Municipal taxes
16. We need a certificate of good ___ for the bank.
standing
stand
status of
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