Spanish Mercantile Law: Sources and Constitutional Framework
Legal Sources of Mercantile Law
- Law: Code of Commerce and special legislation.
- Mercantile Customs: Binding business practice generally observed in each city.
- Common Law: Civil law has application on a subsidiary basis.
The Reform of Current Commercial Law
Spanish commercial law has changed almost completely in the last 20 years: corporations, partnerships, competition, and insolvency all have new rules outside the Code of Commerce. These rules are so-called special legislation. A reform would mean that special legislation will be incorporated into the new Commercial Code.
Constitutional Distribution of Power
The Spanish Constitution drew a political and socioeconomic picture described as a "state of autonomies" to recognize a certain extent of autonomy...