Notes, summaries, assignments, exams, and problems for Law

Sources of Commercial Law

The legal framework governing commercial transactions, particularly credit instruments, is derived from both primary and secondary sources.

Primary Sources of Commercial Regulation

1. Law and Applicable Statutes

   The primary law applicable to credit instruments is the LGTOC (General Law of Credit Instruments and Operations). Other commercial regulations are also applicable to fill legal gaps, such as the Commercial Code, specialized commercial laws, and the Federal Civil Code. All commercial regulations are federal in nature.

2. International Treaties

   Agreements and conventions ratified internationally that pertain to commercial transactions and credit instruments.

Secondary Sources of Commercial Regulation

3. Jurisprudence

   Jurisprudence

Legal System and Social Issues

Authorities (power) / bravery / capitalism / citizen (population) / citizenship / civil servants (public)

Vocabulary Definitions

• Ability: n. a skill that enables beings to perform tasks. (syn. skill)
• Abuse: n. the act of exceeding use or consumption. (syn. misuse)
• Argument: n. a viewpoint supported by real evidence.
• Behavior: n. a conduct that characterizes living beings and organisms. (syn. conduct)
• Bullying: n. the act of hurting or frightening someone smaller or less powerful.
• Conflict: n. a disagreement, difference or quarrel among people. (ant. harmony)
• Debate: n. a formal discussion of an issue in a given context.
• Feeling: n. an emotion towards a person or thing. (syn. emotion)
• Incident: n. a given event, happening or situation.
• Judgment: n. a decision derived from a particular issue. (syn. conclusion)
• Lonely: adj. characterized by being alone, without

What is an electoral process?

Acts ordered by the Constitution and the law itself, made by the electoral authorities, the national political parties and citizens, which aims the periodic renewal of the members of the Legislative and Executive branches of government.

What is a political party?

Can be considered as any permanent association of people who share the same ideology and seeks to participate in political power or wants to conquer it.

What is the electoral roll?

The electoral roll contains the names of the citizens who made an individual application to the INE, and that fulfill the constitutional and legal requirements, to get a voters card.

How often are deputies, senator and president chosen?

Deputies must be renewed every three years and...

Agenda Setting

Media coverage not only directs what we think but also shapes how we think. This influence provides media with a powerful tool to influence government and the way people view it. The idea that what the public thinks about is set by the media. The agenda setting theory was first introduced by Dr. Maxwell McCombs and Dr. Donald Shaw in 1972. This theory states that the news plays an integral part in the shaping of political realities. The amount of time spent on an issue and the information relayed in a news story, along with the story's position, determines how much a reader learns and the amount of importance placed on the issue. McCombs and Shaw's agenda setting theory states that when the media reflect on the views of a candidate...

The Rule of Law in Democratic States

Diamond and Morlino highlight the rule of law as the cornerstone of any democratic state. A robust legal system prevents exploitation and protects citizens from government overreach. In states where the law is respected, citizens enjoy free and fair elections, participate in shaping laws and policies, and hold their government accountable. A law-abiding government, in turn, respects public opinion, protects equal rights for all, and remains answerable for any misconduct across its executive, legislative, and judicial branches. Conversely, without the rule of law, democratic institutions weaken, citizen participation diminishes, and corruption flourishes. Many developing nations struggle to establish a...

Endorsements on Bills of Exchange

An endorsement refers to the transfer of rights using the expression "pay to" or a similar endorsement.

Types of Endorsements

Plenary Endorsement: Conveys all rights of the bill. It has three effects:

1. Transfer of Ownership: Transfers ownership of the bill.
2. Legitimating Effect: Legitimizes the bearer's possession if it results from a regular chain of endorsements.
3. Collateral Effect: The endorser guarantees acceptance and payment. Subsequent endorsees may limit this by:

• Using the clause "not my responsibility," waiving responsibility to their endorsee and everyone else.
• Using the clause "not to order" or "endorse," guaranteeing acceptance and payment only to their endorsee, but not to later endorsees.

Endorsement Limited

Business Structures: A Comparison

1. Sociedad de Responsabilidad Limitada (SRL)

Liability

Partners' liability is limited to their capital contributions.

Capital

Divided into equal shares, minimum $10 or multiples. Full subscription required upon incorporation. Cash or in-kind contributions allowed.

Governance

Meeting of members. Mandatory assembly structure if 20+ members.

Administration

One or more managers (partners or third parties).

Control

Regulatory agency mandatory for 20+ members (lawyer or accountant optional otherwise).

Members

Maximum 50.

Contract

Public or private.

2. Sociedad Anónima (SA)

Liability

Partners' liability is limited to their share subscriptions.

Capital

Full subscription required upon establishment. Cash contributions: minimum 25% upfront,...

Introduction

The Second Industrial Revolution and the second half of the twentieth century brought important changes in market structure: consolidation of big business and mass consumption, a shift away from the party responsible for damage (the manufacturer), internationalization of markets, etc. The traditional regulatory arsenal (Civil Code, Commercial Code, and Competition Law) proved insufficient to protect consumers. This led to a perceived degradation of the consumer's position and prompted calls for consumption standards.

In Spain, Article 51 of the Constitution (EC) contains the four basic consumer rights:

• Defense of consumer safety and health.
• Protection of their legitimate economic interests.
• Protection of information and education.
• Promotion

The Bill of Exchange: Definition and Function

A Bill of Exchange is a document issued by a natural or legal person (the Drawer) ordering another person (the Drawee) to pay a certain amount of money, on the date indicated, to the designated person (the Payee).

A) Parties Involved in the Bill of Exchange

• Drawer: The person who issues the Bill of Exchange and gives the order to pay the Drawee. It is essential that the Drawer signs the document.
• Drawee and Acceptor: The Drawee is the person ordered by the Drawer to pay the Bill. When the Drawee accepts the Bill through their signature, they become the Acceptor.
• Payee/Holder (Tomador/Tenedor): The person designated by the Drawer to receive payment. The Drawee pays the Payee. The Holder of the Bill may