Understanding Obligations and Rights in Legal Bonds
Obligations and Rights
A person (the debtor) has bought an item and has not yet paid the seller (the creditor).
An obligation is a legal bond that links two or more people. At least one of them, known as the debtor, is subject to performing a benefit for another, called the creditor.
The obligation and the right to credit represent two sides of the same reality.
Content of the Obligational Relationship
The debtor and creditor are united by a bond that is composed of two elements: debit and responsibility.
- Debit: This requires the debtor to perform a benefit, which the creditor can demand to fulfill a legitimate interest under their credit right. Debit must be accompanied by responsibility.
- Responsibility: This has a patrimonial character; it is a