In Spain, it is still common for a commissioner of works or services to pay for them by using instruments known as pagarés (promissory notes). The issuers of these promissory notes often act in the belief that, in the event that the works or services are not completely or correctly finished, they can ask their bank without major problems to refuse the promissory note when it is presented for payment.
1. Clarification of the Conduct: Unsolicited Communications According to Spanish Law
Spanish law prohibits sending electronic commercial communications without express consent from the recipient. Article 21.1 on the Law on Information Society Services and Electronic Commerce, published in the Official State Bulletin of Spain on 12 July 2002, prohibits:
In Spanien muss der Verbraucher seine vorherige Zustimmung abgeben, damit ein Händler ihn per Email kontaktieren darf. Verbraucher haben das Recht, Einspruch einzulegen, wenn sie ungefragt per Email kontaktiert werden und Unternehmer müssen in jeder versendeten Email eine klare Opt-out-Möglichkeit vorsehen. Unternehmen müssen auch sicherstellen, dass sie in jeder kommerziellen Kommunikation mit dem Verbrauchern klar identifizierbar sind.
On 14 of January 2014, two Spanish businesses were fined for failing to comply with the Law of Cookies. The fines, of a relatively reduced amount (3.000 euros fine for one and 500 € fine for the other), should be understood as a call to attention for electronic businesses established in Spain or those that lend services or that advertise their services in Spanish territory.
In Erbschaftsangelegenheiten kommt oft die Frage auf, ob es nach dem spanischen Bürgerlichen Gesetzbuch (Código Civil) möglich ist, einen Abkömmling zu enterben. Die sogenannte Enterbung ist in den Art. 848 ff. des Código Civil geregelt.
Was genau bedeutet “enterben”? Wie das Wort selbst inzidiert bedeutet es, jemanden von der Erbschaft auszuschliessen, vorausgesetzt, der gesetzliche Tatbestand ist erfüllt.
French and Spanish law have much in common for historical reasons: their common features, their forming part of the European Union, and the latter trends to harmonize the Member States’ legislation. However, there exists an issue for investors: not only may French and Spanish proceedings differ on certain details, but also the legal vocabulary used in both countries is different. Regarding debt collection, it is vital for a French investor to learn of the existing procedures in Spain and the potential differences between the French and the Spanish systems.
The acquisition process begins with a deal search, where potential target companies are identified and analysed. The results of the analysis are compiled in a Due-Diligence-Report. The next step is the negotiation with the corresponding target companies and the drafting of a term sheet regarding the conditions of the acquisition. The acquirer then prepares a binding offer to the target company, which lays the basics of the concentration contract.
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