Breach in Sales Contracts

Recently, the Civil Cassation Chamber of the Supreme Court of Justice (SCJ) issued the sentence SC1662-2019 of July 5, 2019, which modifies the interpretation of Article 1546 of the Civil Code, which contains the so-called “tacit resolutory condition” of the contracts, especially in relation to their application when the two parties have mutually breached a contract of promise of sale on real estate. Likewise, the decision clarifies the position of the SCJ on the effects that the conclusion of a contract of promise of sale has in relation to the "transfer" of the possession to the promising buyer. Esteban García, associate of the Bogota office of Holland & Knight discusses this issue in the following article published in Asuntos Legales.

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