Colombian Commercial Code - Decree 410 of 1971 - Book IV - Of Contracts and Corporate Obligations - Title IX - Garment - Chapter I - Holding Sleeve - From: Section 1204 to: 1206 Art
CHAPTER I Garment-holding Section 1204 .- The tenure security agreement is concluded with the agreement of the parties, butthe creditor does not have the privilege that comes from taxation, but from the delivery of the thing given as a pledge is made to him or someone designated by the parties. If the creditor does not deliver them the thing is, you can petition the courts. One thing to pledge collateral may not pledge again, as long as the first lien. But the garment may be extended to other obligations between the same parties. Section 1205 .- The debtor is obliged to pay the necessary expenses that the creditor or the third party have done in the preservation of the thing pledged and the damage they had caused their holdings attributable to the fault of the debtor. The creditor is entitled to retain the thing given as security to guarantee compliance with this obligation. Section 1206 .- The creditor's action arising from the pledge referred to in this Chapter shall be...