Our Office

Calle 10 A # 34 11 Hotel Diez CategorĂ­a, office 4014

WhatsApp

+57 318 5324130

The importance of good faith before entering into contracts

When two or more persons decide to enter into a contract, what precedes the conclusion of the contract is known as the pre-contractual period.
At this stage it is important to seek the advice of lawyers specialized in the subject matter of the contract, such as labor lawyers or commercial lawyers. Since this period is where the approach between the parties takes place, presenting situations such as offers, invitations or the exhibition of products to the public.
Institutions such as the offer and the acceptance thereof, although not contracts per se, are regulated in the commercial code, in articles 845 and following.
Although article 1603 of the civil code tells us that all contracts must be executed in good faith, the commercial code restructures this duty and takes it to the pre-contractual period. In this sense, article 863 of the commercial code states that the parties must proceed in good faith, except for fault, from the pre-contractual stage, without penalty of compensating the damages caused.

What is good faith?

In this sense, good faith is a duty to behave, which in the pre-contractual stage implies other duties such as seriousness or the duty of information, i.e. to speak clearly and inform about the circumstances of the object.
The fact that the regulation of good faith in the pre-contractual stage has brought with it the emergence of a new theory of civil liability in the pre-contractual stage. The Supreme Court of Justice, based on Article 863 of the Code of Commerce, has developed the liability for negative interest or trust (liability for prior dealings).
Thus, when the duty of good faith and its consequent duties are breached, the damages caused as a consequence of such breach must be repaired, the source of this pre-contractual liability being articles 863 and 871 of the Commercial Code, which establishes that contracts must be executed and concluded in good faith. 
Whenever you need to draw up a contract, remember that you can get advice from the best labor lawyers in MedellĂ­n (Cuadro Legal Abogados). We have commercial lawyers in Medellin and Bogota and all specialties of law.
 
By: Gianna Negrete Castillo.

Scroll to Top