Rescissible Contracts

The following are rescissible contracts:

  1. Suffer lession more 1/4 of the value of things which are object of the contract.
  2. In representation of absentees, if the suffer lession by more than 1/4 of the value.
  3. Those undertaken in fraud of creditor in which the latter cannot in any manner collect the claims due them
  4. Those things under litigation if they have been entered into by the defendant in judicial claim.
  5. Those contracts declared by law to be subject to rescission.

Rescissible payment;

a. The debtor is insolvent.

b. Obligation not due.

c. The debtor makes payment.

Prescriptive period 4 years.


About Jonathan Ruiz CPA

Entrepreneur, CPA Mentor, Stock market Newbie Mentor, Influential Author and Master's Degree in International Business graduate in Hult International Business School, UK. A father of two lovely daughters.
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