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...
by Antonio Cervantes | Sep 28, 2023 | Company law, Corporate, Virtual meetings
On September 12, 2023, the Mexican senate approved the amendments to the General Corporations Law (the Law) to allow the holding of shareholders and partners’ meetings through instant communications platforms (the Amendments). The document containing the Amendments...
by Antonio Cervantes | Sep 1, 2023 | Case law, Contracts, Insurance
The good faith principle in insurance contracts In accordance with the Mexican law, an insurance contract has a specific condition to become effective: the good faith of the parties. This is confirmed by article 8 of the Mexican Insurance Contract Act (“ICA”)...
by Antonio Cervantes | Aug 30, 2023 | Derecho Mercantil, Obligaciones
The First Chamber of the Mexican Supreme Court of Justice (SCJ) confirmed that air carriers must compensate passengers if they are denied boarding due to overbooking of a flight. In recent days, an extract of the judgement of the constitutional trial in review...