ALTHOX

COLOMBIAN COMMERCIAL CODE CHAPTER VI Procedures Section I Actions Article 780 .- The exchange action shall be exercised: 1. In case of non-acceptance or partial acceptance; 2. In the event of nonpayment or partial payment, and 3. When the drawer or the acceptor are (bankrupt), * or in liquidation, or are open (bankruptcy), * or are in any other similar situation. * Open compulsory liquidation proceedings. Article 781 .- The exchange action is direct when the acceptor is brought against an order granting or exchange of a promise or guarantee, and back when he is brought against any other obligor. Article 782 .- Exchange action by the last holder of the title may claim the payment: 1. The amount of the title or, where applicable, the unaccepted or unpaid; 2. By default interest from the date of maturity; 3. The costs of collection, and 4. Premium and transfer costs from one place to another. Article 783 .- The way back obliged to pay the title, may require action by...