LOADING CLOSE

Legal Capacity To Practice Business

Legal Capacity To Practice Business

Legal capacity to practice business means that the person is qualified to engage in commercial activity. The natural person will be considered to have the legal capacity to practice business when he attains the age of twenty-one calendar years of age. The article (18/1) of the Commercial Transactions Law stipulated that any person who has attained 21 calendar years of age and is free of any legal impediment should be competent to carry on commerce.

The minor, who has attained 18 calendar years of age, may submit an application to the competent court to permit him to practice the commercial activities and the court will assess to grant him an absolute or restricted permission.

Leave a Reply