Commercial Contracts in Mexico

In: Business and Management

Submitted By davidmccarthy
Words 2982
Pages 12
1. General Conditions

Under Article 1793 of the Civil Code for the Federal District and 7524 for the State of Mexico: “A kind of agreement that produces or transfers rights and obligations”. So we can say that a commercial contract is an agreement between two or more wills that creates or transfers rights and obligations of a commercial nature, an agreement of 2 or more wills on the production or transfer of rights and obligations, requiring that these wills have an outward manifestation with expressed or implied consent.
Their legal nature is based on the presence of a dealer on any of the parties, due to its purpose being the industry, commerce or for the commercial mater of the object to which it refers.
Article number 1794 (of the Civil Code for the Federal District) requires consent and an object in order for the contract to exist. Under articles number 1825 and 1826 the object must exist in nature, be determined or determinable and be in commerce (future objects may be subject of contracts as well).
Usage and custom is defined as the result from the practice of traders so that they can become considered true law. Their uniform and continuous practice, make rules to be observed as existing law, but they cannot repeal mercantile laws themselves and be contrary to the principles of public policy. The practice is considered a source of DM autonomous and does not need the recognition of the legislator or judge, and changes to the wording of the new social needs. (Cco. Arts. 280 y 1132.)
The uses are autonomous and independent provisions. They are classified into conventional (allow us to know the will of the parties in business relationships or contracts) and normative (imply the result of the practice of traders). In Mexico commercial usage is subsidiary of extra sources of commercial law, some authors consider it to be the primary source because it derives…...

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