MARCH 2010 EDITION ARCHIVE
Legal Updates
PRACTIQUE LEGAL - Traffic Accidents in Mexico – Practical Implications and How to Proceed
By Rene Cacheaux What should one do if involved in a traffic accident in Mexico? Although this may seem to be an ordinary question, traffic accidents can be a big headache if one does not know how to deal with the consequences of such a traffic accident. Mexico has both federal and state highways. In addition, municipalities have streets, roads and other thoroughfares under their jurisdiction. All of these roadways are subject to federal or state laws, depending on where an accident occurs. The question... [Read More]300 PALABRAS - The Debate on Mexico’s Political Reform
Opinion by Dr. Mario Melgar-Adalid Since the beginning of President Felipe Calderon's administration, there has been a broad agreement on the need to push for an overall political reform to cultivate Mexico's democratic development. President Fox's administration was distracted by disagreements between Mexico's executive power and other political forces. President Fox blamed Mexico's Congress for not doing its job, and politicians blamed President Fox for failing to obtain the... [Read More]Recent Jurisprudence - Termination of Labor Relationships by Mutual Consent
Last month Mexico's Supreme Court (SCJN) issued case decision 2a./J.1/2010 under the heading: "Termination of Labor Relationship by Mutual Consent. Pursuant to article 33 of the Federal Labor Law, a worker may request the nullification of a signed settlement or termination agreement if he or she considers that a waiver of rights has taken place". In recent cases, Mexico's Supreme Court has held that the termination of a labor relationship by mutual consent ‘does not imply... [Read More]Comments on Local Power of Attorney Regulations in Mexico
In Mexico, legal concepts such as authority and granting of powers of attorney are covered in local Civil Codes, which are issued by the local Congress or Legislative Assembly of each Mexican state, which are found in and individually regulated by the 32 Civil Codes in force in Mexico. Even though these legal provisions may seem uniform, various particular differences exist in each one of the civil codes, which must be taken into consideration when considering grants of authority or powers of attorney... [Read More]Business & Politics Outlook
Political Thermometer
According to polls, one year ago President Calderon enjoyed an approval rating of 54%. Now his approval rating has fallen to 41%, which means that close to 60% of Mexican citizens do not approve of his performance. This fall in approval ratings began its most intense phase in December, 2009. In less than three months the president's approval rating has fallen more than 10%. Data published in the respected daily newspaper El Universal show the Mexican public's general dissatisfaction with... [Read More]Economic Indicators
Peso/Dollar Exchange Rate
The quoted exchange rate as of March 11, 2010 was $12.6192 pesos per dollar.Mexican Stock Exchange
The Mexican Stock Exchange (BMV) closed on March 11, 2010 at 32,602.94 points.Interest Rates
March 11, 2010, the Average Interbank Interest Rate (TIEE) for a 28-day period was at 4.9000%.Mexico IP Info
Designations of Origin
In conformity with applicable Mexican laws governing the concept of Designations of Origins (Denominación de Origen) "the name of a country's geographic region may serve to designate a product originating from such region, which has certain qualities or characteristics pertaining exclusively to such geographic region, including natural and human factors". Mexican law grants ownership to such designations of origin to the government, which is to say that the government is the... [Read More]