Choose all that cannot be changed through agreement between parties.

1. Actions against public order are null and void
2. Claims not exercised for a long time can no longer be enforced ("statute of limitations")
3. Money and goods are exchanged simultaneously when goods are sold
4. Ownership rights confer full control over an asset.
5. One can annul without consequences a sales transaction conducted with a sales representative visiting residences, up to one week from the visit.

Choose all that are appropriate regarding sole proprietorships and corporations.

1. If there is no public regulation governing an economic activity, one may immediately start a business without completing any formalities as a sole proprietorship.
2. Given that lenders to a stock company can only lay claim to the assets owned by the company, laws prescribe the minimum amount of assets that must be held by stock companies
3. The owner of a sole proprietorship faces unlimited liability.
4. In startups, sole proprietorships have more credibility than corporations.
5. As businesses grow larger, it would be possible to streamline legal relations through incorporation.

Choose the most appropriate statement regarding the description of a stock company.

1. The establishment of a stock company requires parliamentary approval.
2. The stock company is, by design, suited to collect small investments from a large number of people.
3. Directors of a stock company should be selected from corporate insiders knowledgeable about the business of the company.
4. The managers of a stock company is collectively liable to the business counterparts of the company.
5. High-ranking officers of a stock company must hold equity in that company