Residual right
Residual law ( lat. Residuus , 'remaining behind') is a term from the field of economics and law .
A residual right can arise between two contracting parties if the contract is incomplete , i.e. not all future contingencies have been settled. If a situation occurs that is not foreseen in the contract, the owner of a thing is not contractually obliged and can make his contribution both for his own benefit and for the common cause of the contracting parties. He owns the residual rights to his contribution to the contract. The residual rights usually lie with the owner of a thing.
In a multi-stakeholder organization, labor input must be coordinated and controlled in order to maximize the value of the work done. Carrying out this coordination and control is an effort. You can give a coordinator and controller an incentive to carry out the control well by granting him the residual right to the total income . This means that what is left of the total return after deducting all contractually agreed expenses is due to the controller. The other parties involved receive contractually stipulated remuneration. This consideration plays a role in economics because it explains how companies come into being.
Residual law also plays a role in the classification of securities . While fixed-income securities guarantee the right to contractually agreed payments, shares represent the residual right to company earnings.
In constitutional law, for example, one speaks of residual rights when a legal area is largely regulated by federal laws , but certain matters are left to the member states to regulate. Such residual rights are mentioned, for example, in the Introductory Act to the Civil Code, which lists those areas of law in which the federal states can enact regulations that deviate from the BGB or that supplement the BGB. In Switzerland, residual rights in the area of civil law are codified in the cantonal introductory laws to the civil code.
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- ↑ Articles on the establishment of companies http://www.wifak.uni-wuerzburg.de/bwl7/download/ebwl/Kolloq%20alt/kolloq7.pdf
- ↑ Monthly report of the European Central Bank from May 2006 Archived copy ( memento of the original from September 24, 2006 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
