Colombian Commercial Code - Decree 410 of 1971 - Book IV - Of Contracts and Corporate Obligations - Part I - From Corporate Obligations - Title I - General Obligations - Chapter VII - Ineffectiveness, Nullity, Annulment and Failure - From: Article 897 By: Art 904
COLOMBIAN COMMERCIAL CODE CHAPTER VII I nefficiency, invalidity, annulment and failure Article 897 .- When the Code states that an act has no effect, means that it is ineffective as of right, without judicial declaration. Article 898 .- The ratification of the appropriate parties in compliance with appropriate solemnities perfected the act exist on the date of such ratification, without prejudice to third parties in good faith free of guilt. Will exist when the legal transaction has been concluded without substantial solemnities required by law for its formation, because the act or contract, and when missing one of its essential elements. Article 899 .- Absolutely no business will be legal in the following cases: 1. When a peremptory norm contrary, unless the law provides otherwise; 2. When you have illegal cause or object, and 3. When it is held by someone utterly incapable. Article 900 .- Voidable legal transaction will be concluded by...