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(EN) The dissertation deals with the issue of the legal status of a member of the statutory body of a joint stock company in a situation when the influence of the concern's controlling entity interferes with his/her powers. Attention is paid in particular to the definition of the boundaries of due care and to the binding nature of the concern's guidelines and instructions. In preparing the dissertation, general methods of scientific work, such as deduction, analysis, synthesis and the descriptive method, were used. In addition, specific formal legal methods were employed, namely grammatical interpretation, logical interpretation and systematic interpretation (considering the context and place of the provisions from the point of view of the legal regulation, the system of private law, as well as from the point of view of the entire Czech legal system). As supporting methods, historical interpretation (the rules prior to the recodification of private law) and teleological interpretation (reasoning that uses the meaning of corporate law) were applied. Furthermore, the comparative method was used to a considerable extent in the preparation of the dissertation. This involves both a comparison with selected foreign rules (German, British and French) and a comparison with rules at the Community level. The...

The duty to act with the diligence of a professional manager and consequences of the violation of this duty This thesis deals with the duty to act with the diligence of a professional manager and the consequences of doing so. The author of the thesis tries to define in detail the duty to act with the diligence of a professional manager as a standard form of conduct and its individual definition components and also the consequences that occur in case of breach of this duty. The thesis defines the theoretical basis and tries to critically evaluate problematic issues related to this standard of conduct and to bring their own opinion on the matter.The thesis is divided into six parts. The first part deals with the master-agent issues and the related costs of representation. Shortly, attention is paid to the fiduciary duty and the reasons for its anchoring in general. The second chapter deals with the development of the duty to act with the diligence of a professional manager from the time of the General Austrian Civil Code of Law to legislation in the Civil Code in force and the Business Corporations Act. The third chapter defines individual elements of the care of a professional manager, namely the duty of loyalty, due care and necessary knowledge, with a partial overlap into foreign legal systems....

Every corporate director is under the obligation to perform his duties with reasonable care and loyalty. In connection with re-codification of the Czech private law, the Business Corporations Act brought a new institute to the Czech legal system - the business judgment rule. This rule provides corporate directors with a special protection against the liability for the breach of their duties. The aim of this thesis is to focus on this institute, to analyse the Czech version of business judgment rule, to compare it with its foreign models and provide the most likely judicial interpretation of it. The thesis consists of three main chapters. Chapter One deals with the issue of directors duties of care and loyalty and describes the grounds for existence of business judgment rule with a broaded context of law and economics knowledge. It explains the role of capital companies in business in order to define leading requirements for company regulation. Author focuses on the necessity of taking a risk in process of making entrepreneurial decisions. Chapter Two provides a description of two foreign models of business judgment rule. First, it deals with the business judgment rule originated from the practise of the courts in USA and two possible interpretations given by them - a standard of review and an...

Probíhající odborná debata nad charakterem vztahu člena voleného orgánu a obchodní korporace patrně doposud nepřinesla jednotné stanovisko. Konkrétně jsou předmětem dohad otázky, zda lze porušení péče řádného hospodáře považovat za porušení povinnosti ze smlouvy, či ze zákona, a zda je výkon funkce člena orgánu obchodní korporace výkonem smluvního zastoupení, nebo zastoupení ze zákona. Předkládaný příspěvek mapuje doposud publikované názory k těmto otázkám a přináší vlastní závěry k problematice. Probíhající odborná debata nad charakterem vztahu člena voleného orgánu a obchodní korporace patrně doposud nepřinesla jednotné stanovisko. Konkrétně jsou předmětem dohad otázky, zda lze porušení péče řádného hospodáře považovat za porušení povinnosti ze smlouvy, či ze zákona, a zda je výkon funkce člena orgánu obchodní korporace výkonem smluvního zastoupení, nebo zastoupení ze zákona. Předkládaný příspěvek mapuje doposud publikované názory k těmto otázkám a přináší vlastní závěry k problematice. The ongoing debate over the nature of the relationship between a member of an elected body and business corporation apparently has not yet produced a unanimous opinion. In particular, the question is whether a breach of fiduciary duties should be considered as breach of contract or breach of the statutory provision, and whether a member of an elected body of a corporation exercises a contractual representation or a representation of law. This paper describes previously published views on these questions and brings the author’s own conclusions on the issue.

The subject matter of this Master's thesis is to describe and to analyze the legislation of the fiduciary duties as well as the related questions such as the business judgment rule and the request on the management decisions. The fiduciary duties represent the standard of acting which must be respected by the member of the elected body during the exercise of the managerial power. The business judgment rule, however, protects the members of the elected bodies from unjustified accusations of the violation of the standard of the acting while in the final consequence represents the protection of the authority to undertake the decisions. The request on the management decision represents an exception from the common rule, solely entrusting the management of the business into the hands of the statutory body. The main aim of this thesis is to describe and to analyze the listed legislations including the crucial questions arising from these issues together with the suggestion of the solutions. The diploma thesis consists of four chapters. First chapter presents the introductory treatise on the implementation of the legal establishment of the corporate governance together with the emphasis on the economical output. The second chapter is dedicated to the very merit. The legislation of the fiduciary duties,...

1 Abstract: Disqualification of governing body members (and other persons) from their positions in a business corporation As of 1 January 2014 a new act no. 90/2012 Coll., Business Corporations Act, has been effective in the Czech Republic. Among the other new legal instruments, the Act has incorporated a regulation of disqualification of governing body members (and other persons) from their positions in a business corporation. This master thesis aims at determination of particular grounds for the disqualification and impacts of its application. Further, persons who may be disqualified under the pursuant to the particular grounds are defined in the thesis. The aim of the thesis is to find a general rules governing the disqualification and to determine limits of its application. The thesis also defines other persons (positions) which the disqualified person will not be allowed to hold and perform due to the court's decision. The author uses descriptive and analytical methods to interpret the legal regulation, which is joined with comparison of Czech and British legislation as the British legislation was one of the main sources. The Act is interpreted based on grammatical, logical, teleological, systematic, and partially historical interpretation methods. Within the comparison the author focuses on the...

IN ENGLISH The purpose of this paper is to analyse all segments of the duty of due managerial care of member of an elective body of a limited company and propose de lege ferenda approach to segments of the duty. Another goal of this master's thesis was to examine new business judgment rule and present an alternative British model of the rule. To provide a comparative approach the paper utilizes the British company law approach. The first chapter introduces the origin of the duty of due managerial care, in particular its roots in Roman law and Austrian civil code. The second chapter is divided into five subchapters. The first subchapter highlights the recent changes to the duty of due managerial care after recodification of private law. The second subchapter examines duty of care as one of two integral parts of the duty of due managerial care. Firstly, it analyzes the quality of care expected of directors. Secondly, it focuses on the test for determination of necessary standard of care. Thirdly, following a critical examination of the test for determination of a standard of care, the paper suggests de lege ferenda test of due care. Finally, the first subchapter considers the British duty of care, skill and diligence. The third subchapter covers the duty of loyalty including duties derived from it...

Podle obecných pravidel o dělení důkazního břemene nese každý z účastníků důkazní břemeno ohledně skutečností podmiňujících užití právní normy, jejíž aplikace by pro něj vyznívala příznivě. Nemá-li však jedna ze stran objektivně přístup k informacím, které jsou pro dostatečné zjištění skutkového stavu nezbytné a které jsou druhé ze stran dobře známy, je tím narušeno právo slabší ze stran na spravedlivý proces. Reakcí zákonodárce, jež si kladla za cíl nepříznivý stav zvrátit, je obrácení důkazního břemene tam, kde má být posuzováno kritérium péče řádného hospodáře člena voleného orgánu obchodní korporace. Bližší analýze tohoto normativního příkazu je předložená stať věnována. Podle obecných pravidel o dělení důkazního břemene nese každý z účastníků důkazní břemeno ohledně skutečností podmiňujících užití právní normy, jejíž aplikace by pro něj vyznívala příznivě. Nemá-li však jedna ze stran objektivně přístup k informacím, které jsou pro dostatečné zjištění skutkového stavu nezbytné a které jsou druhé ze stran dobře známy, je tím narušeno právo slabší ze stran na spravedlivý proces. Reakcí zákonodárce, jež si kladla za cíl nepříznivý stav zvrátit, je obrácení důkazního břemene tam, kde má být posuzováno kritérium péče řádného hospodáře člena voleného orgánu obchodní korporace. Bližší analýze tohoto normativního příkazu je předložená stať věnována. Czech law compensates for the information asymmetry between corporate agents and principles through the rebuttable presumption, which sets the breach of agents' fiduciary duties. In order to succeed in a proceeding, the agents must prove they act in the company's best interest; if there are doubts about it, they lose the case. This paper aims to analyze the described corporate procedural legal rule setting the rebuttable presumption.

Disqualification of a governing body member and other persons from their positions in a business corporation Abstract The master thesis analyses the regulation of disqualification of directors and other persons from the management of a business corporation. The purpose of this study is to introduce in detail the grounds for disqualification and to define persons who might be disqualified based on each particular ground, moreover, to describe a scale of effects of a disqualification order and to deal with the consequences of acting while being disqualified. The attention is also drawn to several interpretative problems, which are construed. Additionally, the thesis reflects the regulation of the English Company Directors Disqualification Act 1986 and the relevant English case-law. Except for the introductory part and the conclusion, the thesis is divided into six chapters. The first chapter looks briefly at the disqualification as such and its purpose. Additionally, it is generally described, who might be disqualified. Special attention is paid to the person that is in a similar position as a director and to the influential and controlling persons. The second and the third chapters deal with particular grounds for disqualification. Firstly, it is focused on the disqualification which is pre-conditioned by...

The duty of loyalty of a member of a business company This thesis deals with the topic closely connected with the field of corporate governance which is a part of corporate law. According to the American legal theory is duty of loyalty one of the fiduciary duties. The traditional classification of fiduciary duties is based on dualism - duty of loyalty and duty of care. But this concept is changing over time mainly due to case law. There is no settled opinion on the basic question how many fiduciary duties there are. Current opinion of the respected authority in this field - Delaware' Supreme Court is based on dualism of fiduciary duties, but not in the traditional meaning. The duty of loyalty includes according to the opinion of the judges not only conflicts of interests and self-dealing situations, but breach of good faith as well. On the other hand the traditional point of view was settled on two fiduciary duties - loyalty and care as well. Duty of loyalty was connected with conflicts of interest situations between principal and agent, when the personal financial interest of the agent was present. Duty of loyalty protected the legal position of the principal when agent managed entrusted property. The duty of care was connected with the interest of the principal and due performance of the agent with the...