by Antonio Cervantes | Oct 24, 2023 | Compliance, Contracts, Corporate, Regulatory and Compliance
Through the execution of a contract two or more persons create or transfer rights and obligations, [1] however, there is a risk that one of the parties or even both will breach the agreement. Nonperformance is the failure to comply with contractual obligations...
by Antonio Cervantes | Oct 11, 2023 | Compliance, Corporate, Regulatory and Compliance
Background In a purchase and sale agreement one party undertakes to transfer goods or property, and the other party agrees to pay a specified price for them. [1] When the sale and purchase contract is business-oriented, it is regarded as a commercial purchase and sale...
by Antonio Cervantes | Oct 5, 2023 | Compliance, Corporate, Regulatory and Compliance
Background Pursuant to article 170 of the General Negotiable Instruments and Credit Transactions Law (the “Law”) a promissory note is a negotiable instrument that must contain the following elements to be valid: I. The word pagaré (promissory note)...
by Antonio Cervantes | Oct 4, 2023 | Compliance, Derecho Mercantil, Obligaciones
Capitalized interests [1] in commercial agreements is a term permitted by the Mexican Constitution as long as it is not used in an abusive manner on someone else’s property, nor does it generate excessive interest on the debtor’s part. Article 276 paragraph II of the...
by Antonio Cervantes | Sep 29, 2023 | Case law, Contracts, Promissory agreement
Background Through a promissory agreement one or both parties agree to execute within a period of time, a given contract that the parties do not want or may not execute at the moment. It is also known as preliminary agreement, promise of contract, promise to enter...
