ventas alzadas o en globo

11:26 Jul 11, 2018
Spanish to English translations [PRO]
Bus/Financial - Business/Commerce (general) / Joint Venture agreement
Spanish term or phrase: ventas alzadas o en globo
Context: From a contract among several entities (located in Spain) regarding a joint business venture. I know that a balloon payment is a way of paying off a loan with a large sum due at the end of the loan, but this doesn't seem to be referring to a loan, but rather a sale. Does that make a difference? This appears as one of the statements under the section "Declaraciones y Garantías de [name of company]."

Sentence where phrase appears:
Los Socios excluyen de forma expresa el régimen previsto en el artículo 1.532 del Código Civil respecto de LAS VENTAS ALZADAS O EN GLOBO.

Here is the law referenced:

Artículo 1532
El que venda alzadamente o en globo la totalidad de ciertos derechos, rentas o productos, cumplirá con responder de la legitimidad del todo en general; pero no estará obligado al saneamiento de cada una de las partes de que se componga, salvo en el caso de evicción del todo o de la mayor parte.


Thanks very much in advance!
Olivia Haber
Spain
Local time: 03:41

Summary of reference entries provided
Refs.
Taña Dalglish

  

Reference comments


22 mins
Reference: Refs.

Reference information:
http://www.wipo.int/wipolex/es/text.jsp?file_id=221319
Article 1,532. A person who sells for a lump sum or as a global sale a whole set of certain rights, income or products shall comply with his obligations by being liable for the lawfulness of the whole in general; but shall not be obliged to warrant each of the parts comprising it, save in the event of dispossession of the whole or of the majority.

I believe this is more accurate than the first. The Spanish Civil Code: https://archive.org/stream/spanishcivilcode00spairich#page/n... (Page 278)
Article 1532: A person who sells for a total or lump sum certain rights, rents, or products, as a whole, shall comply by answering for the legitimacy of the whole in general, but he shall not be bound to warrant each of the parts of which it is composed, unless in the case of eviction of the whole or of the greater part.

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Note added at 24 mins (2018-07-11 11:50:32 GMT)
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BTW Olivia, you can find the entire Spanish Civil Code in English (2nd link).

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Note added at 1 day 5 hrs (2018-07-12 16:45:33 GMT)
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Another link which is quite interesting:

venta en globo y venta de empresa - Biblioteca - Universidad de Málaga
www.biblioteca.uma.es/bbldoc/tesisuma/16276279.pdf
por VENGYV DE - ‎Artículos relacionados
El artículo 1.532 C.c. dice: “El que venda alzadamente o en globo la totalidad de ..... 1.631 del Código civil filipino (“One who sells for a lump sum the whole of ...

Page 21
Footnore 17: GARCIA CANTERO, op. cit., pág.747 (nota al pie núm. 48), cita expresamente el art.1.631 del Código civil filipino (“One who sells for a lump sum the whole of certain rights, rents, or products, shall comply by answering for the legitimacy of the whole in general; but he shall not by obliged to warrant each of the various parts of which it may composed, except in the case of eviction from the whole or the part of greater value”.). Como se puede observar, este artículo es una traducción casi literal del nuestro, lo que no debe extrañarnos dado que el Código Civil español estuvo vigente en Filipinas desde su entrada en vigor en 1.889 hasta la independencia de esta colonia ultramarina en 1.898, inspirando nuestro Código la legislación civil de este país.

Taña Dalglish
Jamaica
Meets criteria
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 134
Note to reference poster
Asker: Thank you so much Taña! That helps clarify things considerably.

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