Personal guarantees include personal securities, which can be characterized as an ancillary obligation, since it depends on the main obligation, and as a subsidiary obligation as well, in that only if the principal debtor fails to comply is it possible to demand payment of the debt from the guarantor.
The procedure for substantial modification of working conditions is preceded by a series of consultations with the representatives of the employees which cannot exceed a period of fifteen days.
Among enforceable personal contractual guarantees, the bank guarantee payable on first demand stands out. With this type of guarantee, a banking institution commits to respond to the fulfilment of an obligation, automatically and immediately, and without the ability to demand clear evidence of noncompliance.
I took part at Mariscal Abogados’s internship program from September to January 2018. I currently study International and European Business Law at ICADE in Madrid and I wanted to improve …
A debtor’s default or delay is established if the debtor cannot satisfy his obligation to pay after receiving an overdue notice. At the time of contraction, companies in Spain can take preventive steps to deter defaults from the outset and to improve their legal position in a legal dispute.
A correct evaluation of both a possible purchase of the assets of a company (asset purchase agreement) or a direct acquisition of stocks and shares (share purchase agreement) will determine the best option to enter the Spanish market.
A general partnership is a contract through which two or more people agree to a share capital, with the purpose of undertaking a business activity and distributing the profits. It is an obsolete and uncommon form in the Spanish commercial market, for which, on numerous occasions, it is necessary to transform such partnerships into an LLC or corporation.
Doing my internship at Mariscal Abogados in Madrid was the best choice I could have made. Sincerely, I had a great time in the past three months, because I learnt so …
Karl H. Lincke recently published an article in the book ¨International Advertising Law¨, third edition, concerning advertising law in Spain. Karl H. Lincke recently published an article in the book ¨International …
For legal existence in Spain, companies must fulfil important formalities. The so-called “corporate housekeeping duties” include the registration of the company with the commercial register, the keeping of the minutes of all the meetings of the shareholders and management, the careful management of an accounting and the timely submission of the annual accounts.
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