Draft Bill For The Comprehensive Amendment And Unification Of The Argentine Civil And Commercial Codes

Author:Mr Lisandro Allende
Profession:Brons & Salas
 
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On March 27, 2012, the Argentine Executive Branch filed a draft bill for amendment and unification of the Civil and Commercial Codes which was prepared by an amendment committee created for such purpose in 2011, composed of Messrs. Ricardo Lorenzetti, Elena Highton de Nolasco and Aida Kemelmajer de Carlucci.

Some of the most significant amendments and repealed provisions are as follows:

  1. Repeal of current provisions of the Civil and Commercial Codes; Law No. 11,357 (on women's legal capacity); Section 31 of Law No. 11,723 (protection of photo portraits); Law No. 13,512 (on horizontal property); Law No. 14,394 (on minors and family); Law No. 18,248 (on persons' names); Law No. 19,724 (on intended horizontal property); Law No. 19,836 (on foundations); Law No. 23,091 (on urban leases), Sections 1 to 26 of Law No. 24,441 (on trusts); Law No. 25,509 (on forest surface); Law No. 25,248 (on leases with option to purchase); Law No. 26,005 (on consortiums); and Law No. 26,356 (on timeshare properties). A large portion of the contents of these laws have been included in the draft bill.

  2. Unification of civil and commercial obligations.

  3. Substantial replacement of the general provisions of Law No. 19,550 (Companies' Law) and inclusion of single member companies.

  4. Inclusion of business cooperation contracts, such as: agency, concession, franchise and banking and financial contracts, such as factoring.

  5. Amendments regarding civil liability regarding property damage as a prerequisite for liability, elimination of pain and suffering as a separate notion, inclusion of "dissuasive monetary penalties" and consideration of the threat of damage as damage per se.

  6. Acknowledgement of the existence of a person as...

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