Affectio Societatis: An Analysis of Cohesion and Trust in the Structure of Limited Liability Companies
DOI:
https://doi.org/10.18662/eljpa/11.2/247Keywords:
affectio societatis, purpose, associate, trustAbstract
In a limited liability company, the intention of the partners to collaborate effectively and on an equal footing in the operation of the joint venture is superimposed on the intuitu personae nature of the relations established between them; full confidence in the achievement of the common purpose they have set themselves intensifies the desire to collaborate in the operation of the economic enterprise on an equal footing, to the exclusion of any subordination. The willingness of the partners to act in this capacity therefore varies in intensity according to the specific nature of the company; the greater the risks to which they are exposed, the more the affection societatis component is present in their willingness to exercise all their social prerogatives.
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