1. What is law? Give the main characteristics

42. Give info about state registration of legal entities
A legal entity is subject to state registration in the manner determined by law. The data of state registration are included in the unified state register of legal entities, open for general familiarization.
Violation of the legal entity formation procedure established by law or non-compliance of its constituent documents with the law shall entail a denial of state registration of a legal entity. Refusal to register legal entities for which a notification procedure for state registration has been established is carried out in accordance with the law. Refusal of registration on the grounds of inexpediency of creating a legal entity is not allowed.
Refusal of state registration, as well as violation of the registration deadlines, may be appealed in court.
A legal entity is considered created from the moment of its state registration.
A legal entity is subject to re-registration only in cases established by law.
43. Give info about responsibility of legal entities
A legal entity is liable for its obligations with all property belonging to it.
A state-owned enterprise and an owner-financed institution shall be liable for their obligations in the manner and on the conditions provided for by the fifth part of Article 72 and the third part of Article 76 of this Code.
The founder (participant) of a legal entity or the owner of its property is not liable for the obligations of the legal entity, and the legal entity is not liable for the obligations of the founder (participant) or owner, with the exception of cases provided for by this Code or constituent documents of the legal entity.
If the insolvency (bankruptcy) of a legal entity is caused by unlawful actions of a person acting as the founder (participant) or owner of the property of a legal entity that has the right to give binding instructions to this legal entity, then in case of insufficiency of the property of the legal entity, subsidiary responsibility for its obligations.
The founder (participant) or the owner of the property of a legal entity has the right to give mandatory instructions only when this right is provided for in the constituent documents of this legal entity.
The insolvency (bankruptcy) of a legal entity is considered to be caused by the founder (participant) or owner, who has the right to give binding instructions to this legal entity only if he used this right to perform an action by a legal entity, knowing that insolvency will result (bankruptcy) of this legal entity.
44. Give the main characteristics of a limited liability company
A Limited Liability Company is a lawful type of company that has features of both corporations as well as a partnership however this type of company gives limited liability security to its owners. So basically the proprietors of the business cannot be held completely liable for any debts that the organization incurs or actions taken at its behest. This type of business type is best for small business concerns with that have a smaller amount of owners and normally merely one.