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Commercial Contract

In Spanish law, a commercial contract is a bilateral legal transaction relates to a commercial act.

A "commercial act is any act regulated by the Commercial Code, or any other similar. A legal business can be considered "commercial act according to the status of the parties involved in it (if they are traders or not), depending on its purpose (if you have an object that the Commercial Code is said to be commercial or no), or on the basis of two criteria taken together.

For example, the "Contract company" always has a commercial character, in terms of its object (the pooling of assets in profit-making industry), irrespective of the nature of traders or not the parts that sign, while the "loan agreement" will be commercial if either party is a merchant and borrowed things engaged in acts of commerce.

Category: Merchant Accounts Date: 4.7.2010 17:52:25 Author: leonardo

 

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