Código de Comercio
The Código de Comercio (Commerce Code) was enacted in 1889 and governs commercial transactions, mercantile acts, and business operations in Mexico. The code establishes the legal framework for merchants, commercial contracts, negotiable instruments, bills of exchange, letters of credit, and corporate organizations. It is based on the continental civil law tradition and has been amended to address modern commercial practices. The code applies to commercial activities throughout the Mexican territory and is supplemented by specific sector legislation.
Legal area: Commercial law governs business transactions, mercantile acts, and the legal framework for commercial activities.
Year enacted: 1889
Full text: https://www.diputados.gob.mx/LeyesBiblio/htm/cod_comercio.htm
Key Provisions
- Art. 1-3: Definition of commercial acts (actos de comercio)
- Art. 75: Commercial obligations and contracts
- Art. 105-109: Commercial partners and partnerships (sociedades mercantiles)
- Art. 165-177: Negotiable instruments (títulos de crédito)
- Art. 196-218: Bills of exchange (libranzas and letras de cambio)
- Art. 308-334: Commercial guarantees and pledges (prenda mercantil)
- Art. 369-401: Commercial bankruptcy (quiebra mercantil)
Significance
The Commerce Code is the foundational statute for Mexican commercial law, governing business transactions and corporate structures. The code has been supplemented by the General Law of Commercial Companies (Ley General de Sociedades Mercantiles) and various sector-specific laws. Despite its age, the code continues to provide the basic framework for commercial obligations, negotiable instruments, and business organizations in Mexico.