Conditions and reasons for the civil and legal liability of the person having sole functions of the stock company executive body

The authors of the article discover the conditions and the reasons of the civil and legal liability of the person having sole functions of the stock company executive body. On the basis of the current legislation analysis the authors come to the conclusion that for considering the matter of the executive body sole functions person liability, all the essential elements of the offence are used, the illegal action (or no action) should be defined as well as shareholder's or company's losses and the cause-and-effect relationship and the presumed fault. The article defines civil and legal contents of such categories as good faith and reasonableness of the action (or no action) of the person having sole functions of the stock company executive body. It is proved that justifiable actions (or no action) of the manager should comply simultaneously with two criteria: the action (or no action) should be performed entirely to the benefit of the company, the action (or no action) should be performed with good faith and reasonably. In the conclusion of the article the authors justify the practicability of formalizing the preliminary crime in the legislation as related to the liability of the person having the sole functions of the stock company executive body. In case the legal body incurs losses due to the activities of the person having sole functions of the stock company executive body, the civil offence elements structure should include illegal actions, cause-and-effect relationship and losses.