Under the Slovenian Companies Act, what is the role and legal liability of a company proctor (prokurist)?
Answer and explanation
Correct answer: D. A proctor holds broad statutory power of attorney for all judicial and extrajudicial legal acts
- Step 1: A procuration (prokura) is the broadest statutory business power of attorney under commercial law, enabling the prokurist to perform all legal acts of enterprise operation except real estate disposal without special authorization. Answer: A proctor holds broad statutory power of attorney for all judicial and extrajudicial legal acts. Why not the others: Proctors are agents without personal debt liability, their authority is not limited to 500 euros, and they are not union representatives.
Practise more Microeconomics, Business Operations, Financial Management and the Macroeconomic Environment.
Free questions with an explanation for every one, and full timed Poklicna matura (Vocational Matura Slovenia) mock tests.
More Microeconomics, Business Operations, Financial Management and the Macroeconomic Environment questions
- In microeconomics, what fundamental economic concept describes the value of the next best alternative forgone when making a decision?
- In market analysis, what effect does an increase in the market price of a normal good generally have on consumer demand, ceteris paribus?
- In microeconomic theory, what is the term for a market structure characterized by a single seller supplying a unique product with no close s…
- In business production, which of the following is classified as a fixed cost in the short run?
- In price elasticity analysis, what does a price elasticity of demand coefficient with an absolute value greater than one (|Ed| > 1) indicate…
- In economic analysis, at what point is market equilibrium achieved in a competitive market for consumer goods?