CIVIL AND COMMERCIAL LAW

Civil Law is the common core of which have broken off the other branches of private positive law (Commercial Law, Labor Law, etc.). Therefore, its principles, so strongly sedimented with the passing of the centuries have served, -continue to serve-, as a permanent source of reference for the other branches of private law, either in a supplementary or integrator way.

In a historic meeting on November 21, 1959, the National Codification Commission decided in its general work plan, the unification of our Civil and Commercial Law, on Obligations and Contracts. As a result, Paraguayan private law should be structured based on three main legal bodies, a unified Civil Code, an Act of the Merchant and a Bankruptcy Law.

Despite having a brand new Civil Code, which in itself was quite modern, shortly after it came into force, numerous modifications were made to it (Divorce Law, Constitution of Corporations Act, Paychecks Deferred Act, etc.), and created and regulate many modern institutions: the Stock Market, Securitizing Companies, Leasing, the Trust Fund, Mediation and Arbitration, and so on.

The book I of the old Commerce Code “of the merchants” broke down into a law called The Merchants Law, in which, besides the legal dispositions that rule the Merchants profession, acts of commerce and others, some novelties are introduced as the “Personal Company of limited responsibilities”. There is an Aeronautic Code that rules its subject and the old text of the Maritime Right of the countermanded Commerce Code stays valid. The Cooperatives are legislated by special law.

The system to derogate previous laws is particularly complex because there are a few “abrogated” laws and on the other hand a lot of them are derogated just in regard to contradict the dispositions of the new Code.

The tax and banking laws contain numerous modifications to the general regulation in its ambit. The taxes laws, specially, for including virtually the same universe as the commercial law matters affects in great measure dispositions of the Civil Code and the Merchants Law. Paraguay has subscribed and approved most of the treaties of the INTERNATIONAL PRIVATE RIGHTS about bills of exchange, bankrupts and the same are obligatory in the country, with preference about the national laws.

All this makes the Commercial Law a highly complex and technical matter in Paraguay. Our firm has specialized jurists that are capable of managing cases and situations that usually obstruct the investments.

General Advising in Commercial Law and Corporate Services
Civil and Commercial Corportion matters
Organizing corporations, forming subsidiaries and affiliates
Mercantile contracts
Helping with all types of documents required by the companies in the ordinary turn of their business
Foreign investments
MERCOSUR and corporations
Tax qualification and exemption
Patrimonial Rights
Collection
Trust Fund, leasing and franchising
The penal regimen in the Commercial Right
Bankrupt- insolvency procedures
Computer Law and Electronic Commerce
Electronic banking Law
Competence Defense…
The Liability of managers and partners, members, business associates in the capital