Corporations and LLCs: Formation and Features
Corporations (SA – Sociedad Anónima)
In a corporation, capital is divided into shares. Shareholders are not personally liable for the company’s debts.
Features:
- Limited liability for partners.
- Capital contributions from partners.
- Shares with a nominal value. The sum of the nominal value of all shares represents the total capital.
- It is a legal person with the legal capacity to act and a profit motive.
Formation of a Corporation
There are two ways to form an SA:
1) Simultaneous Foundation
The founding partners
Read MoreUnderstanding the Social and Democratic State of Law
Concept of Social and Democratic State of Law
It is not only the rule of law, or just the welfare state, and democracy only neutral or democracy as a method, but each of these statements conditions and nourishes the other. The concept of rule of law cannot be non-democratic, and democracy cannot work back to the rule of law, nor can they understand the state’s social democracy as opposed. Equality and participation end the separation between rulers and ruled, between state and society, socialize
Read MoreHuman Rights and Law: A Comprehensive Study
- Law: Is what right-minded members of the community believe to be right or fair.
- Jurisprudence encompasses the history of the law, its scope, and relationship with other disciplines and its interpretation.
- Common Law is the law made by judges and it relies on the doctrine of precedent, while Civil Law is made by statutes passed by the Parliament or by subordinate bodies to which parliament has delegated legislative power.
- Human rights have been defined as “inalienable fundamental rights to which a
Understanding Work Contracts: Training and Practice
Work Contracts for Practical Experience
Article 11.1 of the Workers’ Statute (Estatuto de los Trabajadores – ET)
Purpose: To provide paid employment that offers practical professional experience appropriate to the level of studies of an individual who possesses academic or professional qualifications. The tasks performed must fall within the scope of the relevant degree.
Requirements
- Employee: Must hold the title enabling them for the practice.
- Timing: The contract must be made within four years following
Contract Law and Commercial Agreements: Key Elements
Unit 2: Contract Law
What is a Contract?
A contract is an agreement between two or more people which is legally binding.
Was there a Binding Contract?
A legally binding contract must have five elements:
- Offer: An expression of willingness to contract on certain terms, made with the intention that it shall become binding as soon as it is accepted by the person to whom it is addressed.
- Offeror: The person making the offer.
- Offeree: The person to whom it is made.
- Counter-offer: If the offeree rejects the offer
Understanding the Principles of Inalienability and Most Beneficial Condition
The Principle of Inalienability of Rights
Article 3.5 of the Spanish Workers’ Statute (Estatuto de los Trabajadores – ET) establishes that workers cannot validly dispose of rights recognized to them by law, neither before nor after their acquisition. This applies to rights considered absolutely necessary. It also prohibits the disposal of rights recognized as unavailable by collective bargaining agreements. This precept implies the following:
- Who is allowed to waive workers’ rights? The law uses the