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FORFEITURE CLAUSES AS A MANIFESTATION OF A PARTY’S POWER TO TERMINATE A CONTRACT
The treatment afforded to resolutory clauses by Chilean legislation is limited to their express incorporation into forfeiture clauses inherent in purchase and sale agreements. Such little regulation, coupled with the limited use spared to them by Chilean legal scholars, much like the codifier did, trans- lates into a narrow application to cases of contract non-performance.
That is why, by resorting to such historical background, books of au- thority and case law as may be relevant, this paper aims to determine the legal nature of forfeiture clauses and how they operate in order to better their use as a contractual remedy in the interest of unpaid creditors.