Undersigning an attorney agreement which was drafted in another country equals to the situation when an official document is to be used abroad. If someone resides in a different country than the attorney whom he wishes to sign an attorney agreement with, he can also do it in the country of residence, given the condition that it occurs before a public notary. The use of such documents abroad only constitutes…
In case a dispute concerning a civil matter occurs and subsequently no settlement is reached between the parties, most of the times the issue will be dealt with before the competent court pursuant to the rules laid down in the Civil Procedure Act. Courts In Hungary currently there is a four-tier court system: there exist more than a hundred district courts which deals with cases concerning for instance family law,…
In Hungary the devolution of property when it comes to land and a building on it, contains two major steps. Written and countersigned sale and purchase agreement: First of all a written sale and purchase agreement has to be drafted and signed by the parties. There are a number of obligatory elements and formalities which the seller and the purchaser have to comply with. The contract has to be countersigned…
The Takeover Directive sets out minimum requirements for the conduct of takeover bids for individual Member States, including disclosure, involving securities with voting rights of companies governed by the laws of Member States, where all or some of these shares are admitted to trading on a regulated market. Main points of the Takeover Directive The framework means that supervisory agencies are appointed to review and approve the proposed takeovers. Each…
