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When a borrower's default becomes absolute (in the sense that there is not only a delay in payment but a true "missed payment" of significant economic importance to the contract), the bank decides to cancel the contract and immediately demand repayment of the amounts due; hence the borrower cannot take advantage of the deferred payments contained in the redemption plan.At this point, the cancellation amount is calculated (capital plus accrued interest, late-payment interest and any other exp

Co-operatives are associations of persons which are protected in the Italian Constitution:  in fact Article 45 of the Italian Constitution states: “the Constitution recognises the social function of co-operative societies that are based on the values of solidarity and that do not pursue goals of private profit”.In co-operatives predominant importance is ascribed to the social function, which consists in implementing a democratic decentralisation of the power of organisation and management of

Individuals interested in becoming partners, whether they be natural persons, companies, associations or in general, entities, must have the legal capacity to act, i.e. carry out transactions that are valid from a legal standpoint.Can joint-stock companies  be members of a partnership? The issue was a matter for debate up to recently, but an affirmative solution was provided by the law that entered into force as of January 1 2004.Participation by other entities in companies can give rise to