Abstract

ABDALA, Martín E. The Relationship between Company's Asset and Activities in Argentine Law. Estud. Socio-Juríd [online]. 2017, vol.19, n.1, pp.63-78. ISSN 0124-0579.  https://doi.org/10.12804/revistas.urosario.edu.co/sociojuridicos/a.5268.

Abstract The agreement creating a company must establish its capital. Argentine law sets a minimum capital in order to constitute a corporation, but it says nothing about other types of companies. Some authors state that there must be a proper relationship between the asset and the object or economic purpose of the company. Some justify this requirement in the provisions of article 1 of the Ley General de Sociedades, but this law does not refer to this subject. They also tried to justify this requirement with the internal decisions of the Inspección General de Justicia, but those are only mandatory for companies based in Buenos Aires, and its constitutionality is, at least, doubtful. Neither is it convincing to justify this requirement on the importance of resources as a base of the company's economic development, because companies nowadays do not need to have their own resources to start functioning. Also, it is not correct to explain that duty on the guarantee function of asset, because it has lost its importance, and it is not even considered as a relevant index for contracting or grating a credit to the company. Finally, some authors justify that demand arguing that the limitation of the partner's duties, in some companies, is a privilege, which can only be granted when the company has adequate funds. However, we think that this requirement is met if the company fulfils the minimum asset required by law, and the limitation of liability cannot be abrogated by arguing that this minimum does not match the purpose of the company.

Keywords : Corporations; asset; activities; undercapitalization.

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