Smart contracts are becoming the new preferred type of contract used in the financial sector. They are easy to use, have lower transaction costs, shorten settlement cycles, mitigate fraud and are transparent. However, an interesting aspect is whether smart contracts will offer consumer or buyer protection.
Penalty clauses in commercial contracts are extra obligations provided in the commercial contract. Their increasing use aims to ensure compliance with the primary obligation in that incompliance allows for reimbursement.
The terms and conditions must be transferred demonstrably. Central provisions such as the choice of law or jurisdiction are contained only in the terms and conditions. Therefore rightful inclusion of terms and conditions (best by brief confirmation in a slim framework agreement) guarantees these central provisions.
According to corporate regulations in Spanish corporations, the remuneration of the members of the Board of Directors must be approved during the annual general meeting, at least once every three years.
In their ruling 140/2016 of 21 July 2016, the Plenum of the Spanish Constitutional Court resolved the appeal brought by the Parliamentary Socialist Group of the Congress of Deputies against Law 10/2012, of 20 November 2012, regulating fixed fees in the context of the administration of justice and the National Institute of Toxicology and Forensic Science.
Article 93 of the Law on Corporations (LSC) recognizes the right to information of shareholders and regulates separately limited liability companies (article 196) and public limited companies (article 197).
The fall in the price of Spanish companies with a greater presence in the UK, the uncertainty in the banking sector, the reconfiguration of power in the European Union or the need for new trade agreements, are just some of the consequences resulting from the departure of the UK from Europe
At times, the standard or regular laws on advertisements are not sufficient with regard to several types of products. This is usually because these products relate to health or they are products that are used frequently and therefore need more regulation. This is usually the case with products such as alcohol, tobacco, pharmaceuticals, etc. The laws on advertisement concerning pharmaceuticals are especially strict and detailed to ensure that no misleading advertisements are published.
The fight against money laundering focuses on eliminating the laundering of funds or assets obtained through illegal activities. Not only are credit institutions and investment service companies obliged to comply with national and international legislation, but so are notaries, lawyers, and prosecutors.
Some of the financing measures the Entrepreneurs Law introduces to support investments in Spain include the refinancing agreement, the procedure for appointment of an independent expert, the public deed mortgages and bonds of internationalization and the minimum share capital of mutual guarantee companies (MGC).
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