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Questions and Answers
Which legal codes primarily govern the establishment of a business entity with a corporate structure?
Which legal codes primarily govern the establishment of a business entity with a corporate structure?
- Articles 200-210 of the Labor Law and Articles 330-340 of the Tax Code.
- Articles 116-124 of the Commercial Code and Articles 1665-1708 of the Civil Code. (correct)
- Articles 1-10 of the Constitution and Articles 50-60 of the Penal Code.
- Articles 40-50 of the Administrative Law and Articles 100-110 of the Environmental Law.
What is a fundamental characteristic that distinguishes mercantile societies from other types of organizations like associations or foundations?
What is a fundamental characteristic that distinguishes mercantile societies from other types of organizations like associations or foundations?
- Mercantile societies are managed by government entities.
- Mercantile societies are focused on environmental conservation.
- Mercantile societies aim to generate profit. (correct)
- Mercantile societies are established for charitable activities.
According to legal distinctions, what is a mandatory requirement for mercantile companies?
According to legal distinctions, what is a mandatory requirement for mercantile companies?
- They must employ a minimum of 500 workers.
- They must invest a certain percentage of profits in research and development.
- They must obtain approval from the Ministry of Culture.
- They must assume a specific legal form such as SA or SL. (correct)
Under what condition might a mutual insurance company be considered a mercantile entity?
Under what condition might a mutual insurance company be considered a mercantile entity?
What condition determines whether a cooperative is classified as mercantile?
What condition determines whether a cooperative is classified as mercantile?
What impact did the 2010 LSC Reform have on Sociedades Anónimas (SA), Sociedades Limitadas (SL), and Sociedades Comanditarias por Acciones (SCA)?
What impact did the 2010 LSC Reform have on Sociedades Anónimas (SA), Sociedades Limitadas (SL), and Sociedades Comanditarias por Acciones (SCA)?
Which type of capital company is best suited for small to medium-sized enterprises, characterized by limited liability for its partners?
Which type of capital company is best suited for small to medium-sized enterprises, characterized by limited liability for its partners?
Which type of capital company is typically used for large businesses and allows for the free transfer of shares?
Which type of capital company is typically used for large businesses and allows for the free transfer of shares?
What is the primary feature of a Sociedad Comanditaria por Acciones (SCA) that distinguishes it from other types of corporations?
What is the primary feature of a Sociedad Comanditaria por Acciones (SCA) that distinguishes it from other types of corporations?
Which of the following is NOT a key element of a Mercantile Society?
Which of the following is NOT a key element of a Mercantile Society?
What signifies a 'common business interest' among partners in a Mercantile Society?
What signifies a 'common business interest' among partners in a Mercantile Society?
According to the legal texts, which aspect of a company's activities determines whether it falls under the Mercantile Law?
According to the legal texts, which aspect of a company's activities determines whether it falls under the Mercantile Law?
In what way did the LSC Reform alter the criteria for classifying companies like SAs or SLs as mercantile?
In what way did the LSC Reform alter the criteria for classifying companies like SAs or SLs as mercantile?
How does the legal structure of a Sociedad Anónima (SA) facilitate business operations for large enterprises?
How does the legal structure of a Sociedad Anónima (SA) facilitate business operations for large enterprises?
What makes a Sociedad Comanditaria por Acciones (SCA) less commonly used compared to other forms of capital companies?
What makes a Sociedad Comanditaria por Acciones (SCA) less commonly used compared to other forms of capital companies?
When multiple parties contribute capital, assets, or labor to establish a mercantile society, what is the implication for the business?
When multiple parties contribute capital, assets, or labor to establish a mercantile society, what is the implication for the business?
Which of the following scenarios exemplifies a cooperative engaging in 'non-mutual commercial activities' that would classify it as mercantile?
Which of the following scenarios exemplifies a cooperative engaging in 'non-mutual commercial activities' that would classify it as mercantile?
How did the 2010 LSC Reform likely simplify the regulatory landscape for new businesses choosing between an SA or SL structure?
How did the 2010 LSC Reform likely simplify the regulatory landscape for new businesses choosing between an SA or SL structure?
In the context of capital companies, how does the 'limited liability' aspect of an SL (Sociedad de Responsabilidad Limitada) primarily benefit its partners?
In the context of capital companies, how does the 'limited liability' aspect of an SL (Sociedad de Responsabilidad Limitada) primarily benefit its partners?
According to the information provided, what would be the most strategic reason for a large business to choose a Sociedad Anónima (SA) over a Sociedad de Responsabilidad Limitada (SL)?
According to the information provided, what would be the most strategic reason for a large business to choose a Sociedad Anónima (SA) over a Sociedad de Responsabilidad Limitada (SL)?
Flashcards
Business Entity Establishment
Business Entity Establishment
Contract regulated by Articles 116-124 of the Commercial Code and Articles 1665-1708 of the Civil Code.
Key Elements of Mercantile Society
Key Elements of Mercantile Society
Multiple parties pooling capital, assets, or labor with a common business interest and the purpose of profit generation.
Legal Form Requirement
Legal Form Requirement
Mercantile companies must adopt a specific legal form, unlike civil companies.
LSC Reform Impact
LSC Reform Impact
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Sociedad de Responsabilidad Limitada (SL)
Sociedad de Responsabilidad Limitada (SL)
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Sociedad Anónima (SA)
Sociedad Anónima (SA)
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Sociedad Comanditaria por Acciones (SCA)
Sociedad Comanditaria por Acciones (SCA)
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Study Notes
- A business entity with a corporate structure is established through a contract.
- Articles 116-124 of the Commercial Code (C.Com) and Articles 1665-1708 of the Civil Code (C.C.) regulate this contract.
Key Elements of a Mercantile Society:
- Multiple parties contribute capital, assets, or labor.
- There is a common business interest among partners.
- The purpose is to generate profit which distinguishes it from associations or foundations.
Distinguishing Civil and Mercantile companies:
- Mercantile companies must assume a specific legal form (SA, SL, etc.).
- Mutual Insurance Companies are mercantile if they operate on fixed premiums.
- Cooperatives are mercantile if they engage in non-mutual commercial activities.
- According to the 2010 LSC Reform, Sociedades Anónimas (SA), Sociedades Limitadas (SL), and Sociedades Comanditarias por Acciones (SCA) are mercantile regardless of their activities.
Focusing on Capital Companies:
- Sociedad de Responsabilidad Limitada (SL) is for small/medium enterprises with limited partner liability.
- Sociedad Anónima (SA) is used for large businesses, with shares freely transferable.
- Sociedad Comanditaria por Acciones (SCA) is a less common hybrid between partnerships and corporations.
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