Bankruptcy’s Impact on Contractual Obligations
D) Effects on Contracts
a) A company may be declared bankrupt if it cannot fulfill its contractual obligations. The resolution of contracts concluded by a common debtor before the bankruptcy date is a principle with special force. This principle aims to maintain the validity of contracts.
b) The principle of maintaining contracts is not absolute. Bankruptcy can be a legal cause for contract termination. Parties may also agree to contract termination in the event of bankruptcy. Furthermore, the principle
Read MoreBreach of Contract: Legal Remedies and Enforcement
Remedies for Breach of Contract
- 1. Petition or Action for Compliance (Acción de Cumplimiento): Legal Action to Require Contractual Performance
This is the legal remedy used by the creditor to demand the fulfillment of the obligation before the court. The creditor sues the debtor and claims their right by filing a complaint against the debtor. For instance, the lender demands the borrower to pay back the money.
- A total or partial breach, or a defective performance, is sufficient for an action for compliance.
Contractual Inefficiency: Nullity, Voidability, and Dissolution
The Invalidity (Absolute Nullity)
It is characterized as automatic, absolute, structural, original, and irremediable. Absolute nullity occurs when an essential element of the contract is missing or when the contract contravenes imperative rules. A radically null contract does not produce any legal effect.
Various causes can lead to the declaration of absolute nullity:
- Lack of any of the essential requirements: consent, object, and cause of the contract.
- Breach of any of the requirements of the contract’
Athenian Democracy: Structure, Institutions, and Function
Athenian Democracy: An Overview
Athenian democracy was a form of direct democracy where executive power resided in the assembly of all citizens (ekklesia). A council of 500 members, the boule, renewed each year, was responsible for preparing the issues to be submitted for discussion and voting. All state organs were considered subordinate to the assembly.
The Council of 500 (Boule)
The boule was formed by 500 counselors, citizens from all walks of life over 30 years old. The venue was the bouleuterion
Read MoreVoie de Fait: Limits of Self-Remedy in Public Administration
Voie de Fait: A Limit to Public Administration’s Self-Remedy
The voie de fait limits the self-remedy privilege of Public Administration. This comes into force when the Administrative Organ acts outside of its competences or without following the corresponding administrative measure. The Public Administration (PA) must follow procedures. Voie de fait is when the public administration acts with a different aim, not following the general interest, so that citizens can go to the Courts and ask for a
Read MoreThe 1812 Constitution: Birth of Spanish Constitutionalism
The Spanish Constitution of 1812: A Foundation of Liberalism
The 1812 Constitution is a text of legal, historical, political, and judicial significance. Issued on March 19, 1812, in the city of Cadiz, it was created by the Spanish Parliament, which had been installed there since 1810. The recipient of this document was the entire Spanish nation. The text is a collection of articles that formed the first constitution of Spain. A constitution is the basic legal text of any liberal state. It is the
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