Representation of a business corporation in liquidation

Representation of a business corporation in liquidation Abstract This diploma thesis examines the representation of a business corporation in liquidation and the legal consequences of exceeding representative's authority. It first explores who may represent a business corporation in liquidation and to what extent and then analyses the legal effects that arise when a representative exceeds the scope of their authority. The thesis is divided into three chapters, each further divided into subchapters. The first chapter discusses the specific features of the representation of a business corporation undergoing liquidation, defines the purpose of liquidation, and identifies the resulting limitations applicable to the business corporation's representatives. It also compares a restrictive approach, under which only the liquidator is authorized to act on behalf of the business corporation, with an alternative approach that allows other persons to act within the scope of the liquidation's purpose. Furthermore, it addresses whether the purpose of liquidation should be understood objectively (as a generally applicable principle for all business corporations) or subjectively (in light of the specific circumstances and internal conditions of the business corporation in question). The second chapter provides a detailed...