Colombian Commercial Code - Decree 410 of 1971 - Book IV - Of Contracts and Corporate Obligations - Title XII - Current Account - From: Section 1245 to: 1261 Art
TITLE XII CURRENT ACCOUNT Section 1245 .- Under the contract of current account credits and debits from remittances agreement of the parties shall be considered as an indivisible part of credit or debit the account of each account holder, so that only the remaining balance at the close of the account shall constitute a claim. The closure and liquidation of the account in the periods of closure does not cause the termination of the contract, except in cases provided for in Article 1261. Section 1246 .- All dealings between merchants domiciled or not in the same location or between a merchant and who is not transferable and all the property values may be the subject of the current account. Not be included in current account credits that are not countervailable. Section 1247 .- Unless expressly stated otherwise, when the contract is concluded between firms, be excluded from the credit account to the respective foreign company. They will also be ...
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