FEBRUARY 2010 EDITION ARCHIVE
Legal Updates
PRACTIQUE LEGAL - How To Evaluate and Hire a Good Attorney or Law Firm in Mexico
By Rene Cacheaux The process of hiring an attorney or law firm in Mexico may seem to be a fairly simple matter, but reality and experience point to the fact that such is not the case. The first problem encountered by many clients regards communication and language issues. In Mexico, few attorneys are able to effectively communicate in English. Knowing the language is not the only requirement, as it is indispensible for the attorney to have at least a general knowledge of the client's home country... [Read More]300 PALABRAS - Anniversary of Mexico’s Constitution
Opinion by Dr. Mario Melgar-Adalid President Calderon and representatives from the federal Legislative and Judicial branches of government recently attended a celebration in Queretaro commemorating the 94th Anniversary of Mexico's Constitution. This was no ordinary celebration for several reasons. For instance, 2010 is the Bicentennial of Mexico's Independence and the Centennial of the Mexican Revolution. President Calderon has proposed a political reform to amend Mexico's Constitution... [Read More]Recent Jurisprudence - Endorsement Requirements When Corporations are Involved
Recently, Mexico's Supreme Court of Justice (Suprema Corte de Justicia de la Nación or SCJN) published in the Judicial Weekly of the Federation case decision Number VI.2o.C.J/315 entitled "Endorsements. Requirements when made by a legal entity." In such case, the SCJN held that when a legal entity (such as a corporation) endorses a negotiable instrument, said endorsement must contain the entity's name, as well as the nature of the legal authority of its individual representative... [Read More]Reforms to Mexico’s Civil Code for the Federal District (Unforeseen Events in Contracts)
On January 22nd, reforms to Mexico's Civil Code for the Federal District (Código Civil para el Distrito Federal or CCDF) were published in the Official Journal of the Federation adopting the theory of unforeseen events in agreements that are subject to time, condition or compliance within a certain time. The reform entered into force on the day following its publication. The reform assumes that the parties in these types of commercial contracts will be willing, if necessary, to amend a... [Read More]Mexico Announces Program to Modernize Public Registry of Property
The government of Mexico's Federal District announced a modernization program for the Public Registry of Property that will last through the year 2011, after investing 92 million pesos on top of the approximately 200 million pesos invested since the year 2008. The program has three main objectives: i) digitalizing the registry; ii) reducing response time; and iii) implementing security measures. All of these measures are being taken in order to achieve a level ISO-9000 quality certification.... [Read More]Business & Politics Outlook
Political Thermometer
Last month president Calderon presented his political reform initiative for Mexico's Federal Congress to review. Reactions to the proposal have been fairly moderate. Naturally, the president's party, the National Action Party (PAN) has voiced its support. President Calderon has promoted the reform himself, making sure it is distributed to various forums and groups. President Calderon even wrote an editorial opinion in the Mexican daily, El Universal, in favor of his proposal, which is an... [Read More]Economic Indicators
Peso/Dollar Exchange Rate
The quoted exchange rate as of February 11, 2010 was $13.0609 pesos per dollar.Mexican Stock Exchange
The Mexican Stock Exchange (BMV) closed on February 11, 2010 at 30,845.63 points.Interest Rates
On February 11, 2010, the Average Interbank Interest Rate (TIEE) for a 28-day period was at 4.8850%.Mexico IP Info
Authorized Use of Computer Software
The use of computer programs or software in business operations has become indispensible, thus making compliance with software agreements necessary, including the necessity of strict compliance with most applicable Mexican laws and regulations governing this area. The improper use of software in Mexico is sanctioned by various provisions of the Federal Copyright Law (Ley Federal del Derecho de Autor), Federal Criminal Code (Código Penal) and international copyright treaties to which Mexico... [Read More]