final

Question 1

List all the formal sources of commercial law

Answer 1

Legislation
International Treaties
Jurisprudence

Question 2

Main formal source of commercial law

Answer 2

Legislation

Question 3

What is the consequence of acting on behalf of a company not registered at the IRS?

Answer 3

Your job is not official

Question 4

What is commercial law ?

Answer 4

Branch within private law that governs acts of commerce … and trades of commercial objects.

Question 5

Foreign companies requisites to operate in Mexico?

Answer 5

• Adress
• Proper migration status
• Registered at the public registry

Question 6

Trades man duties

Answer 6

Adequate accounting, keep the correspondence, keep the books, sign up at the local chamber of commerce and at the public registry.

Question 7

Jurisprudence is ________

Answer 7

Interpretation of the law by the federal judicial branch of government …

Question 8

Speculation is ________

Answer 8

the buying or selling of something with the expectation of profit …

Question 9

An act of commerce is acquisitions, purchases, lease of articles etc. with the purpose of _____________

Answer 9

Commerce speculation

Question 10

__________ is the Person who makes commerce his habitual occupation.

Answer 10

Trades man

Question 11

__________ is the document where we can verify if a person has the capacity to act on behalf of a company

Answer 11

Powers of attorney

Question 12

__________ are the people (either entities of individuals) that perform or facilitate the conclusion of someone else’s business …

Answer 12

Commercial auxiliaries

Question 13

1. termination of a contract of an independent commercial auxiliary :
   - If there’s no stipulation of time on the contract, the legal relation will end when one of the parties chooses to notify their intentions to finish it _________________ .

Answer 13

Within one month

Question 14

2. termination of a contract of an independent commercial auxiliary :
   - If there’s a clause agreeing on a fixed amount of time, none of the parties will be able to terminate the contract earlier ______________ .

Answer 14

Unless by payment of damages

Question 15

_________ is the right of each partner to have the firm’s property applied to the firm debts.

Answer 15

Equity of partners

Question 16

_________ cash, property, or services contributed by partners to a partnership.

Answer 16

Capital contribution

Question 17

__________ an amount equal to the aggregate “par” or stated value of all outstanding shares.

Answer 17

Legal capital

Question 18

______________ is the supreme organism of the company and can agree and ratify all actions of the company.

Answer 18

The shareholders meeting/assembly

Question 19

________ expresses someone is a shareholder, it gives the rights to the company incorporated in the title.

Answer 19

A Share

Question 20

Yes / No :
According to article 75 of the commercial code, are obligations and stock subscribed by the government like CETES, an act of commerce ?

Answer 20

YES

Question 21

Yes / No :

According to article 75 of the commercial code, do construction companies perform acts of commerce?

Answer 21

YES

Question 22

Yes / No :

According to article 75 of the commercial code, are banking operations acts of commerce?

Answer 22

YES

Question 23

Yes / No :

According to article 75 of the commercial code, are the sales of the growing of plans an act of commerce?

Answer 23

YES

Question 24

Yes / No :

Is the celebration of a matrimony an act of commerce?

Answer 24

YES

Question 25

Yes / No : | Can people condemned for crimes against property, perform acts of commerce?

Answer 25

YES

Question 26

Yes / No : | Can foreigners w/out the proper migration status perform acts of commerce?

Answer 26

YES

Question 27

Yes / No: | Can the effect of legal personality of a company have a distinct legal personality, separate from its members?

Answer 27

YES

Question 28

Yes / No: According to the nationality law, Mexican companies are the ones with accounting in Mexico and a representative office in Mexico

Answer 28

NO

Question 29

Yes / No : | Foreigners exclusion clause allows people from other countries to invest in Mexico

Answer 29

NO

Question 30

Yes / No: | The formality to create a company is with a private contract between the partners

Answer 30

YES

Question 31

Yes / No: | The business plan is part of the bylaws of or articles of incorporation of the company

Answer 31

NO

Question 32

Yes / No: The shareholders meeting can discuss other topics not included on the order of the business published, even if not all of the shares were present.

Answer 32

NO

Question 33

Yes / No: | The quorum needed for a general ordinary assembly to meet is three quarters of the capital

Answer 33

YES

Question 34

Yes / No: | On an extraordinary shareholders meeting, a decision is reached by the vote of the majority of the stock present

Answer 34

YES

Question 35

Yes / No: The second call for a meeting can be published at the same time, alongside with the first notice for a shareholders meeting

Answer 35

NO

Question 36

Yes / No: | Unpaid stock have the right to vote on a shareholders meeting

Answer 36

YES

Question 37

Yes / No: | Liberated stock have the right have the right to vote on a shareholders meeting

Answer 37

YES

Question 38

Yes / No: | Theres no legal responsibility if the administrator presents false information at the share holders meeting

Answer 38

YES

Question 39

Yes / No: | An ordinary shareholders meeting can change the object of the company

Answer 39

NO

Question 40

Yes / No: | An ordinary shareholders meeting approves the financial statements of the company

Answer 40

YES

Question 41

Yes / No: | An extraordinary shareholders meeting can agree the dissolution of the company

Answer 41

YES

Question 42

Yes / No: | A corporation may create different "Classes" of shares with different preferences, limitations, and relative rights

Answer 42

NO

Question 43

Yes / No: | All stocks are indivisible

Answer 43

YES

Question 44

Yes / No: Article of 309 of the commercial code states: "The general manager will be the person that has the direction of the company, or that is authorized to sign contracts regarding ALL THE ASPECTS OF THE COMPANY

Answer 44

NO, because there are some aspects that they don't have the enough knowledge.

Question 45

List 3 main organisms of commercial companies

Answer 45

- Stockholders meetings - Administrator - Comissinary

Question 46

Name one difference between sociedad anónima and sociedad de responsabilidad limitada

Answer 46

The quantity of participants in S de A