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What is trade?

The trade is a contract by which a person (seller) agrees to deliver a certain thing to another (buyer), and the latter agrees to pay a certain price for it, in money or sign that represents it. It is one of the most common and oldest legal contracts, and has great economic and social importance.

Trade can be of different types:

  • Civil or commercial, depending on the destination of the thing sold and the profit motive of the parties.
  • Voluntary or necessary, according to the free consent of the seller or it is imposed by law.
  • Common or specific, as governed by the general provisions of the Civil Code and the Commercial Code, or by special precepts for certain cases.

Trade generates reciprocal obligations:

  • The seller must deliver the thing sold, guarantee its peaceful possession and answer for any vices or defects it may have.
  • The buyer must pay the agreed price and receive the thing sold.

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