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

What is a Bill of Exchange?

A bill of exchange is a commercial document wherein one person, the drawer, instructs another person, the drawee, to pay a specific sum of money on a particular date or at a concrete maturity. The bill of exchange can be drawn by the drawer for their own benefit or for a third party, known as the payee or beneficiary, to whom the drawer transfers or endorses the bill.

Types of Bills by Maturity Date

A bill of exchange can be classified based on its payment terms:

• Payable on Sight (At Sight): Payment is due upon presentation of the bill.
• Payable at a Fixed Date: The specific due date for payment is recorded on the bill.
• Payable at a Term from Date: Maturity occurs after a specified period from the date indicated on the

Dealer's Address

Article 40: The domicile of an individual is the place where he lives with the intention to stay. The general address of the trader is the place where its principal establishment is located.

Article 41: When a trader establishes shops in different places, each of these is considered a special address for businesses that are conducted there by himself or by others.

Article 42: Individuals who serve at the home or work of others have the same address as the person they serve, or for those who work, if they are living in the same place.

Article 43: The place chosen for the execution of an act of trade has a special home for everything related to that act and the obligations that would result.

Key Business Concepts

• Assets: All you need

Business Legal Structures

When several individuals decide to pool money, capital, or project work to start a business, they typically form a company or business entity.

Limited Liability Company (LLC)

A key characteristic of an LLC is that liability is limited to the capital contributed by each partner. Its capital is divided into shares, and the minimum capital cannot be less than 3,005 units (currency implied). Partners must fully pay their capital contributions from the company's inception. Members may freely transfer their shares, though they must notify the company. Transmission to ascendants, descendants, and spouses is also free. However, transferring shares to third parties may have restrictions outlined in the company's bylaws.

Shareholders...

Incoterms Defining Seller and Buyer Obligations

E-Terms: Departure

EXW (Ex Works)

The seller fulfills their obligation when they place the goods at their premises (e.g., warehouse or factory). The buyer assumes all subsequent costs and risks from that point.

• Risk Transferred: Seller's factory door.
• Cost Transferred: Seller's factory door.
• Mode of Transport: Any mode.
• Seller Obligations: None regarding export clearance or loading (unless agreed otherwise).

F-Terms: Main Carriage Unpaid

FCA (Free Carrier)

The seller fulfills their obligation when they deliver the goods to the carrier nominated by the buyer, through customs, at the agreed point. The seller bears risks and costs up to the point the goods are loaded.

If delivery occurs at the seller's property,...

What is the principle of promptness in administrative procedure? It obliges the authorities and officials of the organs of state administration to act on their own initiative in the initiation of the procedure in question and its continuation, with expedited procedures to process the file and remove obstacles that affect its prompt and proper decision.

What is Rejection in the administrative procedure? Any interested party may waive a right or withdraw its request if it is not prohibited by law. If the procedure was initiated by two or more stakeholders, abandonment or waiver applies only to those who have made it.

What is the expiration of the administrative procedure? It is a form of punishment of the petitioner for failure to provide records...

Lending

Fungible Tooling

• Transfer of ownership
• The borrower is only relieved by restoring the very thing borrowed.
• Transfer of a third thing is prohibited.

Mutual Loan

• Real, non-fungible items
• Consumer Loan
• Transfer of ownership
• Allows the sale of the thing loaned
• The borrower is relieved by restoring something of the same species.

Objective Theory: To give someone a property that is just as good because it appears that whoever has possession has the animus, or the will, to keep the good.

Subjective Theory: For someone to have ownership of something, they must have the body (a thing) and the animus (willingness to keep the good).

Transfer of possession and charging for it is not lending but a rental.

Deposit

Concept: A contract whereby a contractor (receiver)...

Civil Law Basics

Key Concepts and Definitions

Individuals and Entities

Population

Any person or entity who acquires or uses a product or service as an end user.

Supplier

Any person or entity, public or private, domestic or foreign, involved in the production, assembly, creation, construction, processing, import, export, distribution, or marketing of products or services.

Advertising and Marketing

Misleading Propaganda

Any advertising that is wholly or partly false or capable of misleading consumers about the nature, characteristics, quality, quantity, properties, origin, price, or any other details of the products.

Tampering

Discriminatory advertising of any kind that incites violence, exploits fear or superstition, profits from the inexperience of children,...

The aim is to create a single market in the EU where products can move as if there were no borders. This means NO:

• Customs duties between countries
• Hidden charges (CHEEs)
• National rules that make trade harder (MEEs)
• Taxes that discriminate against foreign products

Exceptions are only allowed when they are justified (e.g., health, safety, morality, etc.) and pass the proportionality test.

Prohibition of Tariffs and Charges (Art. 30 TFEU)

Prohibited between Member States:

• Customs duties (aranceles): A monetary charge for crossing a border. Always prohibited, even if small or non-protectionist.
• CHEEs (Charges Having Equivalent Effect): An impuesto disfrazado de otra cosa (tax disguised as something else). A unilateral charge on imports/exports not linked

Exercise 1: Legal Terminology

1. Commits
2. To sue
3. Press
4. Offenses
5. Crimes
6. Felonies
7. Defendant
8. Imprisonment
9. Settlement
10. Ensure

Exercise 2: Legal Concepts

Land Law vs. Immigration Law

• Land Law: Regulates property ownership, use, and disputes over real estate or land. It deals with property and land use (derecho de propiedad).
• Immigration Law: Regulates the entry, stay, and removal of individuals in a country.

Barrister vs. Solicitor

• Barrister: A lawyer who specializes in court advocacy and litigation.
• Solicitor: Provides legal advice, prepares documents, and represents clients outside the courtroom.

Defendant vs. Prosecutor

• Defendant: The person accused of a crime in a court case.
• Prosecutor: A legal representative who brings charges against the defendant on behalf of the

Judicial Activism

“Judicial activism” refers to actions by courts to nullify or refashion government laws and policies.

Legislative Supremacy

Established by the Constitution Act of 1867, legislative supremacy grants Parliament the authority to enact laws on any topic within federal jurisdiction.

Pith and Substance

A legal doctrine used to determine which level of government has authority over a particular matter. It focuses on the essential character of the law.

Residual Power

Power held by a governmental authority after specified powers have been delegated to other authorities.

Intra Vires

Within the government's jurisdiction. Indicates that an agency has authority over a matter and can take specific actions.

Ultra Vires

Beyond the government's jurisdiction....