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ADMINISTRATION OF THIRD PARTY PROPERTY IN ROMANIAN CIVIL CODE
Abstract
This article aims to explore the possibility of the administration of third party property by another person and not by the owner of the property. The topic is addressed to natural persons and it is governed by rules of civil law, and not commercial law. The legislation lays down the general principles of such administration, the types, the liability and obligations of the administrator (manager). So, the analysis starts with the Romanian Civil Code, which does not define the administration of third party property. However, its provisions clear the legal regime of the administration and identify the object, as well as the conditions to comply with in order to administer third party property. The analysis also considers the obligations of the administrator towards the beneficiary, third parties and the obligations undertaken regarding the inventory, guarantees and insurance. Therefore, the liability of the manager is an important aspect of this institution. Thus, s(he) must act within the limits of the powers conferred and shall fully respect the obligations stemming from the law, the articles of incorporation or any subsequent understanding.
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