The assignment of receivables is a deal, which is concluded between a creditor or assignor and a third party or assignee where the former transfers to the latter the ownership of a certain receivable, without the need of the debtor’s intervention. However, once the debtor knows of the assignment, only the payment to the assignee frees the debtor from their obligation.
During the time between the opening of the succession, acceptance and acquisition of inheritances, legal relationships may arising lacking ownership. During that time, the estate is said to be recumbent, i.e. it has no owner. However, this does not prevent the estate from participating in legal proceedings.
Franchising is a business relationship between two parties, franchisor and franchisee, for which the first gives the rights to use its trade as well as its know how to the second in exchange for a royalty or financial consideration. Normally, these contracts also include training and support from the franchisor to the franchisee.
Recently, the press has referred to a specific judgement of the Provincial Court of Madrid from 14 November as unprecedented on the ground that, in declaring the contract void and ordering the bank to pay back its client the amount of their investment, the court based its judgment on the (mere) wrong qualification of the product in question (a structured bond) and not on the concrete circumstances of each client of the product.
Article 336 of the Spanish Code of Civil Procedure establishes that expert opinions provided by litigants should correspond to the complaint or the answer (without prejudice to the right in Article 339 of the Civil Act Procedure to request the court to appoint an expert).
The setting-up of a subsidiary in Spain involves the creation of an independent entity with its own legal personality. Even though the parent Company contributes the share capital to form the subsidiary and directly manages the subsidiary, the subsidiary is an independent legal entity.
A branch and a subsidiary are the two main legal forms through which a foreign investor can develop their activity in Spain. While a subsidiary is an independent and autonomous legal entity, different from its parent Company, for which it participates in the market on its own account and risk, a branch is a secondary establishment completely dependent on its parent Company, being a mere extension of the latter on Spanish territory.
In Germany, only a third of the population grant any kind of will or heritance contract. It is now even more important to think in advance of granting last wishes, especially for people who do not have their last residence in Germany. This is equally true for Spaniards living in Germany.
In order to understand what a corporate merger consists of, we have to analyse Articles 22 and the following articles of Law 3/2009 of 3 April 2009, on structural modifications to corporate companies in Spain (hereafter, LMESC).
Regulation and interpretation of a collective dismissal according to European Law
European Directive 98/59/EC regulates collective dismissals and defines them as dismissals by an employer for one or more reasons not related to the individual workers, where the number of dismissed employees is at least 20, for a period of 90 days, regardless of the number of workers normally employed in the workplace in question.