Francisco de Assis Marques v Center Trading Indústria e Comércio Ltda – a case note regarding limited liability in Brazilian Law
This case note provides an objective notion regarding limited liability in Brazilian law. Francisco de Assis Marques v Center Trading Indústria e Comércio Ltda is a recent case from February, 2013, decided by the Brazilian Supreme Federal Court. The case note is divided into five parts. The first part provides a notion about the Brazilian courts’ system and its decisions on limited liability. The second part presents the Brazilian Superior Labour Court’s position on this subject. The third part discusses the interpretation given on this issue by the Brazilian Superior Court of Justice regarding limited liability. In the fourth part the proper case study is developed, clarifying the facts involved, the Court’s decision and its effects. Finally, in the fifth part I present my conclusions linking this subject to the initiative of a new Brazilian Commercial Code, affirming that this important event may have a great efficacy not just by the means of well-drafted general rules but also as a great opportunity to the Brazilian legal community to unify its position about the matter, and to provide more legal certainty for investments in the country.
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