Originally from:
Doing Business in Colombia - 2nd Edition - Hardcover
Doing Business in Colombia - 2nd Edition - Electronic
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Chapter 2
Obligations and Commercial Contracts
I. OBLIGATIONS
The Colombian Civil Code does not define the concept of obligation. Legal
scholars, however, have defined it on the basis of Article 1495 as “a legal nexus
in which a person must do something for the benefit of another person”1.
An obligation consists of the following four elements: a) an active person,
creditor and owner of the right (obligee); b) a passive person (obligor); who
undertakes to give, to do or not to do something for the creditor; c) an object,
which is a thing, deed or act which must be given, done or not done; and, d) the
legal nexus, which links the obligor to the obligee2.
Obligations are classified on the basis of characteristic and common
elements. Therefore, they are grouped according to (a) the existence or nonexistence
of an action which would allow performance or abstention to be
demanded (penalty); (b) the conditions required for an obligation to exist or to
be fulfilled (by mode); (c) the autonomy or independence of an obligation (by
dependence); (d) with reference to the persons participating in an obligation (by
persons); and (e) the object of the obligation (by object).
What follows is an overview of the types of obligations in the Colombian
legal system:
A. Principal and Accessory Obligations
Principal obligations exist regardless of other obligations or rights, while
accessory obligations depend on the prior existence of a principal obligation or
right3.
B. Single and Plural Subjects
In the legal nexus, there are necessarily two parties, the obligor and the
obligee. However, it is possible for one or both parties to be formed by several
persons, which gives rise to single or plural subject obligations4.
About the Firm:
Cavelier Abogados, a Colombian law firm established in 1953 that combines experience and innovation and stands out as a leading advisor in Latin America in several fields of the law. Using the most modern legal infrastructure and technology, the firm offers clients a strategic partnership for business development with legal services in Colombia and overseas countries. The strength of Cavelier Abogados lies in its Intellectual Property Law and Business Law areas, but the firm is also strong in Corporate Law, Financial Law, Foreign Investment Law, Tax Law and Mining and Hydrocarbons Law. Besides occupying prominent places in the top rankings of law publishers, the firm employs several university professors and authors of books on the practice areas of the firm. Cavelier Abogados also has a network of 469 correspondents in 143 countries. It was also one of the first Colombian law firms to have its own Code of Ethics, which contains higher standards of conduct compared to local legislation. The firm uses a multidisciplinary approach to find creative, prudent and value generating business solutions that optimize clients' return on investment while minimizing risks.
Contributors Include:
Natalia Tobón-Franco; lawyer from Universidad de los Andes (Bogota, Colombia); L.L.M. in Intellectual Property Law from Franklin Pierce Law Center (New Hampshire, U.S.A.); professor and author of several books and articles on Copyright Law, Freedom of Speech and Entertainment Law; associate at Cavelier Abogados.
Eduardo Varela-Pezzano; lawyer and specialist in Intellectual Property Law from Universidad del Rosario (Bogota, Colombia); L.L.M. candidate on Technology & Intellectual Property Law from the University of Liverpool (Liverpool, U.K.); Intellectual Property Law professor at Universidad del Rosario and author of several books and articles on Freedom of Speech, Patent, Trademark, Copyright and Entertainment Law; associate at Cavelier Abogados.
