The new Civil Code and its effects on the business world

The New Civil Code, which came into force on October 1st, 2011, is likely to bring about radical changes in the academic area of law classes, discourses and monographs, as well as in the business sector. The BURSA newspaper is running a consistent campaign to inform businesspeople on the implications of the new Civil Code of Law, by regularly hosting conferences on "Business law" ever since 2010.

The biggest change comes from the new concept of the Civil Code of integrating commercial and business law relations into the body of civil law.

Lawyer Gheorghe Piperea considers that the new Civil Code, a huge law which consists of over 2700 articles, will increase the complexity of contracts, and of law relationships in general, will make lead to always having lawyers present at the negotiation table and will increase the involvement of judges in the sphere of human relationships.

Cătălin Alexandru - an associate of "PeliFilip" says: "The area of interest of the new Civil Code covers several areas of social interaction (aside from relations of power), meaning that the litigants could easily fell like they"ve lost their point of support. But if we take into consideration the content of the Code, the social reality which it will model is not substantially different from the social reality which already existed on the moment of its enactment. The new Civil Code is not a brutal break away from the past; rather, it is rooted in it".

Daniela Nemoianu, Executive Partner at "Nemoianu Attorneys at Law", a company associated with KPMG in Romania, considers that the business and legal environment will see major changes under the impact of the new Civil Code of Law.