Economic and Business Law

BUSINESS ADMINISTRATION
Renán Ramírez Redrován

ECONOMIC LAW AND

BUSINESS

1.- INTRODUCTION.
CONCEPT OF LAW

In the Basic Legal Dictionary of Cabanellas, we find the following

scope of the term

Right from the Latin directur, directo; from dirigere, to straighten or to align.
complexity of this word, applicable in all spheres of life, and the
the singularity of constituting the fundamental in this work and in the entire legal world
(positive, historical and doctrinal), advise, more than ever, to proceed in an orderly manner
and detail.
1. As an adjective, both masculine and feminine. In the material: straight,
the same, followed.

• To the situation: what is left or found on the right or right hand

of the observer or of the reference indicated.
• founded, reasonable.
• In strictly legal terms: legal, legitimate, or just.
2. As an adverb, and consequently invariable, it means straightaway.
or in a straight line; without any other legal meaning than the figurative one of the straight path
or straight, the legal route, good faith. This is equivalent to the use as a noun.
neutral: the right one.

3. As a masculine noun, at the peak wealth of its meanings and

nuances, in this voice, within the infinity of opinions, probably
as many as authors, two meanings prevail: in the first, the right
(thus, in lowercase, for our differentiating criterion) constitutes the faculty,
individual power or authority to do, choose, or refrain in regard to oneself
it concerns, and to demand, allow or prohibit others; whether it is the natural foundation,
legal, conventional or unilateral, we are facing the subjective right.
But, moreover, law (now with a capital letter, to distinguish it from
previous) express the order or the orders that make up the content of
codes, laws, regulations or customs, as mandatory precepts,
regulators or supplementary ones established by the public power, or by the people
the same through repeated general practice or usual tradition; it configures
then the so-called Objective Law. As a synthetic repertoire of its

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most commonly used meanings we will indicate whether it is 'derecho' or 'Derecho', depending on the cases,

means: natural ability to act according to our will, except for the
limits of another's right, of another's violence, of physical impossibility or of
the legal prohibition.
• Power to do or demand whatever the law or authority establishes for us
favor, or that permitted by the owner of a thing.

HIERARCHY OF NORMS

The Constitution and the ratified international human rights treaties

for the State to recognize rights more favorable than those contained in
the Constitution shall prevail over any other legal norm or act of
public power.
The hierarchical order of application of the rules will be as follows: The
Constitution; international treaties and agreements; organic laws; the
ordinary laws; regional norms and district ordinances;
decrees and regulations; the ordinances; the agreements and the resolutions; and the
other acts and decisions of public authorities.
In case of conflict between rules of different hierarchy, the Constitutional Court,
the judges and magistrates, administrative authorities, and public servants
public, they will resolve it by applying the higher hierarchical norm.
CLASSIFICATION OF LAW.

PUBLIC LAW.- Legal norms that regulate acts between the state
and individuals, when the state acts with power and sovereignty.
Fundamental principle: "Only that which is established can be done".
law
• Constitutional Law: Regulates the great structure of the state; defines
the functions: legislative, executive, judicial electoral and citizen participation.
Establishes the rights and guarantees of citizens

• Administrative: Rules that regulate the relationship between the State and the
Managed
• Criminal: Norms that establish penalties for those who have violated.
Legal Norms
• Procedural: They regulate the methods to enforce our rights
• Financial: Regulates the economic management of the state

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PRIVATE LAW.- Set of rules that regulate acts between individuals

individuals on equal terms.
Fundamental principle:

Everything can be done except for that which is prohibited by law

• Civil Law: Regulates the relationships between people
• Commercial Law: Rules for those who make commerce their activity
habitual
• Corporate Law: Creation, Modification, Management of
companies or corporations of private law legal entities.

SOCIAL LAW.- Set of legal norms that are dedicated to a

to protect those who are in a position of disadvantage with respect to
other people.
• Tenant Law
• Labor Law
DEFINITION OF CORPORATE LAW

Corporate law is the branch of private, commercial, and business law.

corporate that regulates and studies companies and associative contracts.
DEFINITION OF POSITIVE CORPORATE LAW

The positive corporate law is the set of legal norms or legislation.

which regulates the activity of corporations and associative contracts.
LOCATION

It is advisable to have greater knowledge of the branch of law in question.

From the study, determine its location, for which we must specify
that corporate law falls under commercial, private, corporate law
or business, or corporate and company. In private law, the parties
they can celebrate agreements, in this sense in corporate law the people
they can constitute companies and enter into some contracts such as for example
sale, exchange and lease of shares, purchase and exchange and
lease of shares, bondholder syndicate, syndicate of
shareholders, participation syndicate, management contract, among others
contracts.
ECONOMIC FUNCTION OF CORPORATE LAW

It is beneficial for our purposes to determine the economic function of law.

corporate, which aim to facilitate investment when agents
economic factors are several, in this sense it is clear that with their existence
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transaction costs are reduced because it becomes easier to determine which

it is the result in the face of the problems that will arise between partners, or between
these and society, or between it and third parties.

ECONOMIC IMPORTANCE OF CORPORATE LAW

The law regulates the economy in such a way that it is clear they are united.
and they are divided or separated only for study purposes. Therefore, we must specify
that corporate law is important for the economy because thanks to the
Investments in the market are being increased, which is where it connects.
supply with demand. Without the existence of a general company law, it is clear
that civil law would hinder the development and formation of societies.
Since the existence of the branch of law, the development of states has been studied.
has been greater, which allows us to affirm that since the Middle Ages the
the development of the economy of the towns has grown or increased in the market.
That is to say, corporate law needs to make the market more agile.
Applicable Standard

When conducting research, it is advisable to refer to the law or positive law.

applicable to understand what is the applicable basis for the research topic, which
we will do next. In Peruvian corporate law, the applicable norm is
the general law of companies and also the regulations of companies, among others
rules of Peruvian positive law. However, the cited norms
they constitute the main ones. For many, law is the same as right
positive, with which we do not agree because the first encompasses the second.
that is to say, positive law is part of the second, in any case it is clear that
We must study all sources of law.
Roman Law

In any research work, it is advisable to study Roman law, which is why

In the present study, we will examine the same, noting that the aforementioned is divided.
in two stages which are ancient Roman law and current Roman law or
The ancient Roman law is the one that existed in ancient Rome,
noting that its stages were Empire, Monarchy and
Republic. In current Roman law, it is clear that corporate law exists.
since it is the current law within which we locate the law
Peruvian, noting that ancient Roman law has influenced the
current law and within it not only to Peruvian law. The law of
companies did not exist in ancient Roman law, but it is necessary to clarify
that in the same there were societies, yet they did not recognize the difference
between commercial and civil societies, but this difference was created and
built through later studies of doctrine in the Middle Ages. Already
As we know, corporate law recently appeared in it and therefore,
it did not exist in ancient Roman law and the same applies to all the others
branches of business law or company law or corporate law
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business, corporate law, and commercial law known in our environment

this last one as commercial law, however, the technical name is the
First, that is to say, the correct name is commercial law instead of law.
commercial.
HISTORICAL EVOLUTION

In any research work, it is advisable to study the historical evolution to

to have solid knowledge of corporate law, which is the branch of law
studied, in this sense we will briefly study the main
milestones in the historical evolution of this important branch of law. For which
we will study corporate law from ancient Roman law to legislation
current Peruvian law. The historical evolution of corporate law finds
beginning in ancient Roman law to later find the history of
same in the limited partnership, the German common partnership, in
Anglo-Saxon law, the great codifications, the Swiss general code of
obligations, the Italian civil code of 1942, the German legislation of 1965, the
French legislation of 1966, Dutch legislation, the general corporation law
of Delaware of the United States of North America, Brazilian corporate law
anonymous of 1976, the Chilean law on public limited companies 18.046, the first law
Peruvian General Companies Law, the Paraguayan Code of 1986, the Uruguayan Law
16.060 of 1989, the English law of 1989, the Spanish law of 1989, the law
Colombian Law 222 of 1995 and currently in force the General Law of Corporations
Peruvian which has only a few years of validity and in any case it is clear that
contains some legislative changes regarding the previous legislation or
repealed, for example, there are news about the existence of two shareholders such as
minimum to form a company regardless of the type of corporation, the split,
the consortium, among other very important legislative innovations which
are an important part of Peruvian corporate law and of the law
current world.
ORIGINS OF LEGISLATION ON COMPANIES AND SOCIETIES IN
THE ECUADOR
1. THE INDIAN LAW
In light of the new situations that arose -following the discovery of
America - a new law, called indiano, began to consolidate.
accumulated an infinite number of regulations, from the mentioned Capitulations,
reaching around one million legal provisions, gathered
partially within the Compilation of Laws of the Indies, published in 1680,
how quickly it became partially valid due to the new regulations issued since then
date until the very process of political independence at the beginning of
19th Century. There were new compilations (History of Administration of
Justice and the Council of the Judiciary. Javier Gómezjurado Zevallos.

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Coordinator. Juan Cordero Iñiguez and Vladimir Serrano Pérez, PPL Printers,
Quito, Ecuador, January 2013, page 16.
2. ORIGINS OF LEGISLATION ON COMPANIES AND CORPORATIONS
Spanish law, in effect in our Latin American republics until
to finish the first half of the 10th century, oscillates between one and another meaning referring to
a Society or Company: Originally for him, it was Company the appointment
of two or more merchants among themselves, in order to gain something, more easily,
pointing to having it in one. It is a contract or agreement that is made or can be
to come together between two or more people with the purpose of doing and continuing
jointly several businesses, at common account and risk.
In 1804, the Civil Code of Napoleon I is issued (commissioned to Cambacérès,
who was the second Consul during the Consulate period). In September of the year
The French Commercial Code was issued in 1807, effective from the following year.
year, in which the Corporation is shaped in an orderly manner. It
promulgated when Napoleon was Emperor, in 1807 and came into force on the 1st of
January 1808 (Doctor Fernando Ron Bautista, work cited, page 42).
This Code concludes the Ancient Regime, separating itself
definitely sovereign and monarchical authorization (Octric), as a result of the
French Revolution, for the simple governmental authorization for the
incorporation of the Societies that are recognized as follows: The En
Collective Name, the Limited Partnership and the Corporation.

The Spanish Commercial Code of 1829, the work of Don Pedro Saínz de Andino,
was approved, signed, and enacted by Fernando VII through Royal Decree of
May 30, 1829. Saínz de Andino modeled it after the Commercial Code.
French of 1807, considered Spanish commercial jurisprudence and collected the
Ordinances of Bilbao. (Dr. Ramón Vela Cobos, ?The Anonymous Company?,
page 16, published by the Ecuadorian Academy of Corporate Law.
3. Origin of Business and Company Legislation in Ecuador
As a pertinent point to comment on this topic, we found it necessary to mention the
doctor Miguel Macías Hurtado, in whom we have found important
background in this regard:

After the Battle of Pichincha, May 24, 1822, Ecuador began to form
part of Gran Colombia, and consequently the Constitution was in force in the country
Policy dictated by the Congress of Colombia in Cúcuta, on July 12, 1821,
which in its article 188 mandated that the laws be declared in their force and vigor
that have governed so far in all matters and points, which directly or
indirectly do not oppose this Constitution, nor the rights and laws that
expedite the Congress. The laws that had been in effect were the Spanish ones.

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On October 12, the Law on the Organization of Courts and Judges is enacted.
that extinguishes the Special Commerce Courts and entrusts the matter that
they competed with the ordinary judges and courts, who would hear those matters.
businesses.
By the law of July 10, 1824, the rules that determine the
way of knowing, and the substantiation of the causes of commerce.
This law, in addition to creating the Commercial Courts in the capitals of the
departments and provinces, and authorize their creation where deemed appropriate
The government is necessary and is of fundamental importance for the following reasons:

a) List the acts that must be considered as commerce: the companies and
sales of fruits and goods; manufacturing contracts; of conduits
by land or by water; the supply companies, agencies, stores or
merchandise counters, resale establishments at the auction
public; exchange operations, bank or brokerage all obligations with
regarding the promissory note, bonds or checks and money remittances made of
a square to another for commercial objects; any shipbuilding company,
and all purchases, sales, and resales of vessels, their equipment and gear
for interior and exterior navigation; the contracts on freight for carts and
cavalries for the transport of commercial goods; and all ship freights;
the loan or borrowing at large; the insurances, company accounts,
factories; bankruptcies, shipwrecks; the major or minor breakdown; the agreements and
salary agreements with ship crews; the knowledge
and contracts between their captains and the charterers, and all other matters that
are designated in the Ordinance of Bilbao and other current laws of the
Republic that will henceforth govern;
b) Define the merchant as those who engage in acts of commerce
making them their usual occupation
c) The Law repeals Article 73 of the Law of October 12, 1921 mentioned.
previously; and
d) The law mandates that commercial disputes will be decided by the Ordinances.
from Bilbao, and failing that by common laws, insofar as they do not oppose each other
and others that have been given or that may be given in the future by Congress.

The contentious matters submitted to the jurisdiction of the law are

determined and shall be judged in accordance with this law all disputes and
differences that occur over commercial acts between any individuals
even if they are not merchants, as long as the quantity regarding which they are concerned does not decrease,
of one hundred pesos.

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Furthermore, it establishes the need for reconciliation in commercial matters.

(Art. 5); and submits matters of jurisdiction to another court or judge
to the decision of the Supreme Court (Art. 21); and denies the appeal in those
matters that do not exceed the amount of five hundred pesos (Art. 22) and in the
matters that exceed this amount grant the right to appeal before the Court
District Superior (Art. 23) (26).
On May 13, 1825, the Senate and the House of Representatives of the
Republic of Colombia, gathered in Congress, decreed a law arranging the
civil procedure of the courts and judges of the Republic. Article 1
that law established the order of observance of laws in all courts
and courts of the Republic, in the following manner:
a) Those decreed or that the Legislative Power may decree in the future;

b) The pragmatics, cedulas, orders, decrees, and regulations of the Government

Spanish sanctioned until March 18, 1803, that were under observation
under the same Spanish government in the territory that forms the Republic;

c) The Laws of the Compilation of the Indies;

d) Those of the new Compilation of Castile; and,

e) Those of the Seven Partitions.

On August 1, 1829, the Guayaquil Chamber of Commerce was established by

the Liberator, at the request of the merchants of the city, and its jurisdiction
it included the entire so-called Southern District of Greater Colombia.

An appeal was made before the prefect of the Department. Its organization and
operation adhered to the prescriptions of the Certificate of erection of
Consulate of Cartagena, issued on June 14, 1975 by the King of Spain.
The Consulate was made up of a Prior, two Consuls, Consilians, and a Syndic.
and several employees, but the function of administering justice was the responsibility of
Tribunal made up of the Prior and the two Consuls, all merchants.
I must warn that before, between 1820 and 1924, there was also a Consulate in
Guayaquil, for the Provisional Government Regulation of the Free Province
authorized the establishment of a regulated commerce deputation in the
possible to the Ordinance of Cartagena? (27), but this Chamber of Commerce
was abolished by the Colombian Law issued on July 10, 1824, to which I have
reference made above.

Immediately after Ecuador separated from Gran Colombia, the

The constituent congress enacted the Law of November 4, 1831, which authorizes
to the Executive Power so that it orders the Commercial Code to be observed

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sanctioned and promulgated in Madrid on May 30, 1829?, with the exception of
Book V that deals with the administration of justice in business
trade, as it is deemed convenient to persist: The consulate of Guayaquil
(Course of Commercial Law, Volume I, General Part, Corporation of Studies and
Publications, Quito, 1984, pages 74, 75, 76, 77, and 78.
Consequently, the first Commercial Code that Ecuador had as a nation
independence was declared on November 4, 1831, by the Congress presided
by Manuel Mateus, and it was exactly the Spanish Commercial Code of 1829,
which incorporated into our legal structure the Code of Fernando VII,
except for its Book V, which governed for more than half a century in Ecuador.

The Ambato Convention of 1878, on May 31, before designating the General
Ignacio de Veintimilla as President of the Republic, repealed the Code of
1831 approving another in substitution, it was enacted four years later.
afternoon and ruled from May 1, 1882, when the aforementioned President, then
after consulting with a board of legal experts, he put it into effect, but without
to depart from the established general guidelines, although it was glimpsed
a marked influence of the Venezuelan Code. The Project was developed by
to the Supreme Court between 1873 and 1875, but the President of the Republic, doctor
Antonio Borrero objected to it.

In 1906, the Commercial Code of 1878 was repealed and a new one was enacted.
came into effect on October 25 of that year, through Supreme Decree of
July 30, from the then President of Ecuador, General Eloy Alfaro; this is the
legal body that, with some variations and reforms, remains in force.
The Commercial Code issued on July 30, 1906, by General Eloy Alfaro,
contains in articles 261 to 362, the regulatory norms of the Company
Anonymous, in very general terms, leaving unregulated very important matters.
aspects and problems arising from the complexity of economic life
modern. Some of the gaps and deficiencies of the Code were remedied
through Decrees or Laws, but it was never attempted to regulate in a formal way
systematic and in accordance with the new principles of legal science, to this
type of Company.

On the other hand, the deficiency of the judicial bodies in the examination of
legal statute of Corporations, determined the existence of
Null or irregular companies.

Ultimately, we can say that the Commercial Code of 1906 dedicated the title
VI of the Second Book on the regulation and operation of Companies
Trade and established, for the first time in Ecuador, state surveillance over
the national and foreign companies based in Ecuador; then,
by Supreme Decree No. 160 of March 24, 1936, was granted to the

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commercial judges such oversight and control and then to the provincial judges, to the
Abolish the commercial judges. Many of their provisions were flawed.
short and vague and, above all, contained a series of legal gaps, reasons
for which the Code was harshly criticized. These criticisms were added and
they exploded starting in 1960, a year in which the Ecuadorian economy had taken
a rhythm already increasing and accelerating.

In 1962, Doctor Francisco J. Salgado, Dean of the Faculty of

Jurisprudence of the Central University (which later in 1963 would be its
Rector, and in 1968, Superintendent of Companies and in the 1980s of the Century
former Legal Advisor of the Andean Development Corporation CAF
organized and directed the First National Law Conference, of great
importance for the country, in which Doctor Ricardo Cornejo Rosales (Ex
President of the Supreme Court of Justice, and in 1973 Legal Director of the
Superintendency of Companies presented a Company Bill,
which served as a fundamental basis for the Supreme Decree No. 142 of
January 27, 1964, promulgated in the Official Registry No. 181 on February 15
from the same year, the Military Governing Board will enact the first Companies Law,
dismembering it, if they accept the term, from the Commercial Code.
In this regard, Dr. Carlos Larreátegui, in his cited work, page 5, tells us
remember:
In the Exposition of Motives that the working group appointed by the Commission
National Securities presents as a background to support the new law,
it is mentioned as her objectives, the following: Need to equip the country
of legal norms that address and solve the problems that have arisen since
for some time, it has been demanding the economic development of the Republic,
both in the relationships that take place in it and in the external order?
establishing new types of society and revitalizing and making more agile
the existing ones in our archaic Commercial Code; seek a greater
systematization and simplification of the regulations presented in the Code
dispersed and anarchic form, which will enable these companies to fulfill
with efficiency in the future, its economic and legal mission?; and, creation of the
Superintendence of Corporations, as an effective means of providing trust
to the investor and to pave the way for the organization of a market for
values that promote the industrial and economic development of the country?

Definition of society

Society is the central theme of corporate law or company law.

In this regard, we will proceed to define it. Society is the set of
groups of people with a common profit motive, contributing goods or
services and appoint representatives, being their participation in the society
established according to the shareholders' table or table of participants.

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That is to say, some opportunities are legal entities and others are not. And in
In any case, the existence of the companies comes to an end with the extinction of the
society that is registered, and only from that point on can it
choose the same name for another company again.
affection of society
It is advisable for our purposes to briefly define what affectio consists of.
society, which must have the partners of the companies, leaving a record
that they can be treated as shareholders or participants. The affectio
Society is the spirit of doing business in common. That is to say, it is an institution.
a legal figure specific to corporate law, which only exists in this type of
legal person or autonomous entity. The company is a legal person when it runs
registered in the registration offices. The company is an autonomous entity when it does not
registered records in the registration offices. That is to say, it is a term
well-known legal expert among lawyers specializing in law
corporate. That is to say, this legal institution subject to study should only exist
in the partners of civil or commercial companies, but not in the
associates of associations or committees or in rural communities or
cooperatives, among other cases of legal entities or autonomous entities.
Neither does it exist in the titles of individual companies of
limited liability, and in any case it must be noted that until
At a certain point, it can be argued that there exists in associative contracts. But
From another perspective, it is clear that there is no same in those contracts the
What are the subjects of study in corporate law, contract law,
business and corporate. That is to say, if this element does not exist in the partners, it is
Of course they should not form a partnership.
RELATIONSHIP WITH OTHER BRANCHES OF LAW

WITH CONSTITUTIONAL LAW

Corporate law is related to constitutional law because the

The constitution establishes the right to associate.

WITH CIVIL LAW

Corporate law is related to civil law because the civil code

Peruvian of 1984 contains some regulations regarding legal entities, the
which apply to all law, as societies in some cases
they are legal entities.
WITH PROCEDURAL LAW

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Corporate law is related to procedural law because companies

they can litigate and special processes can be processed under the general law of
societies.
WITH TAX LAW

Corporate law is related to tax law because the

Companies are taxed, just like any economic agent.
WITH REGISTRAR LAW

Corporate law is related to registration law because companies

they are registered in public records.

WITH NOTARIAL LAW

Corporate law is related to notarial law because for the

registration in the companies registry requires prior intervention of the
notary, which is governed among other regulations by the notary law, which has
has undergone some legislative changes and we await the approval of
corresponding unique ordered text.
WITH CRIMINAL LAW

Corporate law is related to criminal law because corporations,

their representatives and their partners may commit criminal offenses that must be
ventilated before the courts.
WITH MUNICIPAL LAW

Corporate law is related to municipal law because the

companies must process their operating license, which is necessary
to be able to open their offices.

WITH POLITICAL LAW

Corporate law is related to political law because it is related

with constitutional law, and this branch of law is part of the law
politician.
WITH THE CHANGE LAW
Corporate law is related to exchange law because the
societies use securities.
WITH THE BANKRUPTCY LAW

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Corporate law is related to insolvency law because the

companies are declared in bankruptcy and also because they go bankrupt and
they leave the market for that reason, among others.

WITH STOCK MARKET LAW

Corporate law is related to securities law because some

public companies have their shares listed on the stock exchange which
they buy and sell in the stock market, which is little known by others
of the treatises. It is necessary to note that it is also necessary to have
Take into account securities law because companies can enter into contracts.
securitization or stock market financing or asset securitization.
WITH INDUSTRIAL LAW

Corporate law is related to industrial law because some

companies dedicated to industrial activity are organized in the form of
societies.
WITH INTERNATIONAL TRADE LAW
Corporate law is related to international trade law.
because in order to engage in international trade, companies can be established.
WITH CUSTOMS LAW
Corporate law is related to customs law because some
companies carry out customs clearance procedures.

WITH CONTRACT LAW

Corporate law is related to contract law because for

Some say society is a contract and that it celebrates contracts within itself.
daily life.
WITH LABOR LAW
Corporate law is related to labor law because companies
They can have employees on payroll.
WITH MARITIME LAW

Corporate law is related to trademark law because the

companies can own brands.
WITH INDUSTRIAL PROPERTY RIGHTS

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Corporate law is related to industrial property law because

societies can own industrial property assets such as
trademarks and patents, among other intangible or incorporeal assets.

WITH COPYRIGHT

The corporate law is related to copyright law because the

companies can own copyright. They can even
validly celebrate publishing contracts.
WITH THE RIGHT OF TRANSPORTATION

Corporate law is related to transportation law because the

companies can own means of transportation and/or may enter into
transport contracts
WITH AIR LAW

Corporate law is related to aviation law because the

companies can own airplanes.
WITH COSMIC LAW
Corporate law is related to cosmic law because societies
they can own interplanetary ships.
WITH MARITIME LAW

Corporate law is related to maritime law because the

companies can make use of or engage in maritime transport.
WITH THE RIGHT OF INTERNET
Internet law relates to Internet rights because the
companies can have a website or send emails or hire
by internet.

WITH TELECOMMUNICATIONS LAW

Corporate law is related to telecommunications law because

Many opportunities, societies own telephones and moreover
because on some occasions they celebrate contracts over the Internet.

WITH INFORMATION TECHNOLOGY LAW

Corporate law is related to computer law because some

companies are dedicated to computing and others celebrate IT contracts
such as license agreements or rental or sales contracts
or donation or exchange of computers.
WITH ADMINISTRATIVE LAW

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Corporate law is related to administrative law because the

many societies carry out administrative procedures for example
one of these procedures is before the municipalities and others before Indecopi, among
others.
WITH THE REGULATORY RIGHT
Corporate law is related to regulatory law because some of
Many opportunities in societies are supervised by agents.
regulators, a topic studied by the second branch of law
mentioned in the present paragraph.
BRANCHES OF CORPORATE LAW
PROCEDURAL CORPORATE LAW

One branch of corporate law is corporate procedural law, because the

Corporate law regulates and studies some criminal and civil processes.
SUBSTANTIVE CORPORATE LAW

Substantive corporate law is the branch of corporate law that regulates the
activities of the society that are neither registrations nor processes
judicial

THE REGISTRAR CORPORATE LAW

Procedural corporate law is the branch of corporate law that regulates and
study the qualification and registration of registrable acts in the registry of
societies.
CONTRACTUAL CORPORATE LAW

Contractual corporate law is the branch of contract law,

business, corporate, and company law that regulates and studies contracts in the
corporate law in the latter, such as contracts for example
associative agreements, contracts on shares and participations, shareholders' syndicates,
participation syndicates and bondholder syndicates.
AUTONOMY

Corporate law is an autonomous branch of law because it has its own

own regulations such as the general law of companies and the regulations
of the registry of companies, because there are chairs of corporate law,
because there are corporate law books, among other aspects that make
that branch of law is autonomous. It is also an autonomous discipline because
There is corporate jurisprudence arising from judicial and registrarial processes.

BODIES OF SOCIETIES

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Economic and Business Law
Business Administration
Renán Ramírez Redrován

The bodies of the society are the partners' meeting and the management, and in some
companies also have a board of directors as part of them (only some of the
joint-stock companies have a board of directors, that is, this body is not specific to
other types of societies).
NAME OF THE COMPANY
GENERALITIES
Every society must have a name, which may be a designation or
of a social reason. That is to say, these two legal terms are not the same or the
the same, for which we will define them below in order to understand their
difference.
Company Name
In the case of the corporate name, it can contain the name of one of the partners.
For example, Fernando Jesús Torres Manrique collective partnership.

DENOMINATION
The denomination is a fictitious name, that is to say, it is not about the names
of the partners.
REGISTRATION IN THE SINGLE TAXPAYER REGISTRY

Every society must register after registering in the register of societies.

in the single taxpayer registry managed by the SRI.

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