Spanish Commercial Law: Partnerships, Agreements, and Securities
Partnerships
General Partnership
Governed by the Commercial Code. No minimum capital amount. The partners are jointly and severally liable for the partnership’s debts. Any transfer of partnership interest requires the consent of every partner.
Simple Limited Partnership
Governed by the Commercial Code. Two types of partners: at least one partner with unlimited liability is in charge of the management and representation of the partnership; at least one limited partner who is liable only to the extent
Read MoreIncoterms: International Shipping Terms Explained
Incoterms: Rules for Any Mode of Transport
EXW (Ex Works)
The seller delivers when it places the goods at the disposal of the buyer at the seller’s premises or at another named place. The seller does not need to load the goods on any collecting vehicle, nor does it need to clear the goods for export, where such clearance is applicable.
FCA (Free Carrier)
The seller delivers the goods to the carrier or another person nominated by the buyer at the seller’s premises or another named place. The parties
Read MoreUnderstanding Checks: History, Concepts, and Legal Aspects
Check History and Evolution
- Origins: Similar to the bill of exchange in Europe during the Middle Ages.
- England: 17th century, Exchequer Bills – King orders the Treasury.
- France: 1865, first legal distinction between checks and bills of exchange.
- Brazil: 1860, first Brazilian legislation.
- Uniform Law: Geneva Convention in 1931, applied in Brazil since 1966.
- Brazil: 1985, Act 7357 (Check Act) – articles cited without source refer to this law.
General Check Concepts
Concept: An unconditional order of payment
Read MorePurchase Order and Goods Transportation: Key Aspects
Purchase Orders
A purchase order is a document that details a transaction between a buyer and a supplier. It specifies the products, quantities, prices, and agreed-upon delivery date. The purchasing department can send the order via letter, fax, email, phone, or through an agent.
Types of Orders
- Firm Order: When both parties agree on the transaction terms, often based on a pre-negotiated contract. This is also known as a cream order or request.
- Conditional Order: When the buyer sets conditions for the
Understanding Partnerships and Corporations: Key Legal Aspects
Key Legal Aspects of Partnerships and Corporations
Formation and Contributions
1. For there to be a corporation:
It is necessary that all partners make a contribution.
2. Call external companies:
A society with legal personality.
3. The purpose of the partnership agreement:
Are the contributions made by partners.
4. Contributions of the partnership agreement:
May consist in giving, doing, or not doing anything.
Types of Partnerships and Liabilities
5. The contract participation accounts:
It is purely a domestic
Read MoreCommercial Sales Contracts: Key Elements and Terms
The Contract
A contract requires three factors: There is an agreement between two or more parties. The agreement concerns a matter or thing, the obligation of which is determined. The contract generates a legally enforceable obligation between the parties.
Effects of Contracts
The contract requires contractors from the time of perfection. From the time of the agreement, it is due to be fulfilled. Contractors must act in good faith. If not fulfilled in all its terms, it is binding on the contractors
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