Form of contracts concerning shares in a limited liability company

In contrast to the Commercial Code cancelled in 2014 the recent Czech legal system doesn’t include an explicit arrangement for the legal form of contracts concerning the transfer of a share in a limited liability company.

The new law on commercial corporations (No. 90/2012 Coll.) in § 209 art. 2 only says, that the contract becomes efficient not until the company receives one copy with notarised signatures. We therefore ask the question, whether this is only necessary in relation with the company, or whether notarised signatures are always required to make the contract efficient?

This question was first clarified some time ago by the highest judicial authorities. The Supreme Court in a statement from January 2016 (judgment Cpjn 2014/2015) though incidental, but definitely drew the conclusion, that it is not possible to use different forms for copies of the same contract. It therefore advances the view, that notarisation of signatures are essential for the contract’s validation.