Legislator Case Law & Legislation
I PKN 529/00 AI generated

Employee's declaration to buy shares accepted; company liable for damages due to lack of care.

Case Number I PKN 529/00
Court / Authority
Jurisdiction Poland (PL)
Decision Date
Outcome Dismissed

Legislator summary

AI generated

The Supreme Court dismissed the cassation appeal filed by a joint-stock company against a lower court's award of damages to an employee. The employee had declared his intent to purchase shares before the privatization law took effect, but the company failed to accept this declaration within the statutory period. The court held that the company was liable for damages due to its lack of due care, even though the declaration was technically premature, and that the lower court's reasoning was legally correct despite minor errors in its justification.

Legislator headnote

AI generated

Art. 38 ust. 1 ustawy o komercjalizacji i prywatyzacji przedsiębiorstw państwowych; Art. 355 § 1 KC: The company's obligation to accept an employee's declaration to purchase shares must be fulfilled in a manner corresponding to social and economic goals and the standard of care required for a commercial entity.

Keywords

AI generated
privatization law employee share purchase lack of due care cassation appeal joint-stock company liability statutory declaration damages award

Cited Legislation

AI generated
Art. 38 ust. 1 of the Act on Commercialization and Privatization of State Enterprises
Art. 355 § 1 of the Civil Code
Art. 393 § 1 of the Code of Civil Procedure

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