Notes for the admission of the extrajudicial resolution by means of a declaration that is unilateral in nature and requires communication and receipt to become effective into the chilean civil code

Abstract

The disperse and precarious regulations of the termination due to breach, together with the alleged hegemony that our doctrine and precedent attribute to the judicial exercise of the resolution, are not compatible with the current state of legal transactions. In point of fact, far from reassuring the creditor, the costs, shortcomings and discussions associated to said approach actually cause the creditor to experience uncertainty whilst awaiting for the resolution of the trial. Another hardship experienced by the creditor occurs when attempting to build up the credit by stipulating a clause for an automatic termination of the contract, only to later find
out that the right of option has been infringed, thus jeopardising the protection of the creditor’s credit claim. On the grounds of the hereby presented facts, this paper puts forward a few ideas which have the purpose of admitting the model of a resolution by means of a declaration that is unilateral in nature and requires communication and receipt to become effective (or at the creditor’s own risk and responsibility), into our Civil Code.