Commercial Acts and Regulations: A Comprehensive Guide

Commercial Acts and Regulations

General Provisions

Scope of the Commercial Code

This Code governs commercial acts and other applicable laws.

Definition of Dealers

Dealers are individuals with legal capacity to engage in trade as their ordinary occupation. This includes companies incorporated under commercial laws, foreign companies, agencies, and branches operating within the national territory.

Legal Capacity

Every person with legal capacity can contract and be bound.

Unfair Competition

Acts of unfair competition include:

• Creating counterfeit products
• Discrediting establishments, products, or activities through false statements
• Misleading the public about the nature or manufacturing methods of products

Restrictions on Commerce

Commerce is prohibited in public corridors and unrehabilitated areas.

Merchant Obligations

Publication and Registration

All merchants are required to:

• Publish essential circumstances related to their commercial registration through the press
• Maintain an accounting system as per Article 33
• Preserve correspondence related to their trade

Establishment Opening and Changes

Merchants must announce the opening of their establishments or offices through appropriate media, including the firm's name, location, and purpose. Any changes to these circumstances must also be announced.

Public Register of Commerce

The Public Register of Commerce records commercial acts and charges. It is managed by the Secretary of Economy.

Electronic Registration System

The Federal Government owns the electronic registration system, which handles the capture, storage, security, consultation, management, and transmission of registration information.

Electronic Company Sheets

Each company has an electronic sheet recording its name, trade type, start date, branch specifications, and capital.

Registration Procedure

The automated registration procedure consists of several phases: physical or electronic reception, pre-coded form analysis, qualification, and ballot issuance. Electronic registration is sent electronically.

Treasury Bills

Treasury bills are registered with the Secretary.

Clerical Errors and Misconceptions

Clerical errors involve writing incorrect words, omitting information, or mistaking names or quantities. Misconceptions occur when the inscription misrepresents the instrument's content, altering its meaning.

Accounting System

Requirements

The accounting system must identify individual transactions, track operations, prepare financial reports, and connect figures between statements.

Ledger Annotations

Ledger annotations must be made at least monthly, including account names, balances, and total movements.

Minutes Book

The minutes book records all agreements related to business progress made during meetings.

Preservation of Documents

Traders must preserve letters, telegrams, and other documents related to their business.

Commercial Acts

Definition

Commercial acts include acquisitions, disposals, leases, public performances, banking operations, trade deposits, commission operations, bookstores, publishing companies, utility companies, printing companies, supply companies, factories, and manufacturing companies.

Non-Commercial Acts

Non-commercial acts include purchasing goods for personal or family use, resales by workers as a natural consequence of their profession.

Contracts and Obligations

Contracts with Brokers

Contracts involving brokers are finalized when the parties sign the minutes as prescribed in the respective title.

Obligations without Fixed Term

Obligations without a fixed term are due 10 days after they are incurred if they involve common stock, or the next day if they are enforceable.

Terms of Grace and Courtesy

Terms of grace and courtesy are not recognized in commercial contracts. Days are 24 hours, months follow the Gregorian calendar, and a year is 365 days.

Late Compliance

with trade obligations begin:. In a contract which he has the date set for compliance by the will of the parties or by law the day after maturity. --- And those who do not have, since the day he claimed on the creditor to the debtor, judicial or extra notary or witnesses.
- The commercial obligations be met in the location specified in the contract, or otherwise with him who, according to the nature of the business or the intention of the parties,
- If the contract is not very clearly the kind and quality of goods supplied, the debtor can not be required other than the delivery of goods in kind and quality means.
- In the commercial contract that has been fixed penalty for damages against anyone who does not comply, the aggrieved party may enforce the contract or the prescribed penalty, but using one of these two actions, is terminated other.