CORPORATE AGREEMENT: FEATURES OF CONCLUSION AND IMPLEMENTATION IN UKRAINE

Abstract

The article explores the concept of corporate agreements within Ukrainian legislation, delving into their subject composition, key elements, and methods of execution. It pays particular attention to recent updates in national legal norms, notably the changes in the Law of Ukraine «On Joint-Stock Companies» and the Law of Ukraine «On Limited and Additional Liability Companies», which address corporate agreements. A detailed examination is provided regarding the procedural nuances of formulating a corporate agreement while also evaluating the current legislative framework governing corporate relations. The authors outline significant aspects that establish corporate agreements as distinct legal mechanisms within the broader domain of economic contractual relations. Furthermore, the text identifies and assesses common challenges associated with implementing corporate agreements. Core principles for ensuring compliance with contractual obligations are discussed, along with recommended liability measures for violations. A review is conducted on available methods for guaranteeing adherence to terms concerning corporate agreements. The findings of the study highlight that the imposition of martial law in Ukraine has brought about notable alterations in the regulation of contractual practices. Agreements entered into during this period feature more explicit provisions addressing force majeure, enabling parties to better anticipate risks and recalibrate contractual obligations based on the evolving circumstances. It is emphasized that while force majeure events do not absolve a party from fulfilling its contractual obligations, they can temporarily suspend performance deadlines for the duration of such events. Once these circumstances subside, the business entity is required to fully comply with the terms of the agreement.