Argentina did not inherit the Falklands from Spain, so neither did it inherit any treaties from Spain that may refer to the Falklands. Britain never recognised Spain had any territorial rights to places that it had never had possession of, nor did it ever recognise Spain had exclusive navigation rights in the South Atlantic. First some background: The Treaty of Münster In 1648 Spain signed the Treaty of Münster recognising the independence of the Netherlands. In that treaty in article V Spain and the Netherlands mutually recognised that their territories consisted of those they held at the time. Spain did not hold the Falklands in 1648. http://www.scribd.com/doc/33633447/Treaty-of-Munster-article-V "the said Lords the King and States, respectively, shall remain in possession of and enjoy such lordships, towns, castles, fortresses, commerce and countries of the East and West Indies, as well as of Brazil, and on the coasts of Asia, Africa, and America, respectively, which the said Lords the King and States, respectively, hold and possess," The article makes no mention of discovery, of the Bull Inter Caetera of ALEXANDER VI, 1493, of the Treaty of Tordesillas, as the basis for Spanish sovereignty. In other words, by 1648 Spain had recognised that actual possession was necessary to establish sovereignty over a territory:
Judge Max Huber’s interpretation of this article in the Island of Palmas Arbitration:
On the other hand, it establishes as a criterion the principle of possession
(‘demeureront en possession et jouiront de telles seigneuries . . . que lesdits Seigneurs Roy et Estats tiennent et possedent’).
However liberal be the interpretation given, for the period in question, to the notions of ‘tenir’ (hold) and ‘posséder’ (possess), it is hardly possible to comprise within these terms the right arising
out of mere discovery; i.e. out of the fact that the island had been sighted. If title arising from discovery, well-known and already a matter of controversy at the period in question, were meant to be recognized by the treaty, it would probably have been mentioned in express terms. The view here
taken appears to be supported by other provisions in the same article. It is stipulated therein that ‘les
Lieux & Places qu'iceux Seigneurs Estats cy-aprés sans infraction du présent traitté [sic] viendront à
conquérir et posséder’ shall be placed on the same footing as those which they possessed at the
moment the treaty was concluded. In view of the interpretation given by Spain and Portugal to the right of discovery, and to the Bull Inter Caetera of ALEXANDER VI, 1493, it seems that the regions which the Treaty of Münster does not consider as definitely acquired by the two Powers in the East and West Indies, and which may in certain circumstances be capable of subsequent acquisition by the Netherlands, cannot fail to include regions claimed as discovered, but not possessed.