This question was closed without grading. Reason: Answer found elsewhere
Feb 3, 2011 12:22
13 yrs ago
1 viewer *
Spanish term

quiebra del remate

Spanish to English Law/Patents Law (general) código de procedimiento civil
Código de Procedimiento Civil del Ecuador:

Art. 475.- Si el postor no consigna la cantidad que ofreció de contado, a petición de parte se le cobrará por apremio real, o se mandará notificar al postor que sigue en orden de preferencia, para que consigne, dentro de diez días, la cantidad por él ofrecida, y así sucesivamente. En este caso, el anterior rematante pagará las costas y la quiebra del remate ocasionadas por la posterior adjudicación, en primer lugar, con la cantidad que se hubiere consignado al tiempo de hacer la postura y, en segundo lugar y de no ser suficiente aquella cantidad, con los bienes del rematante que el juez de la causa mandará embargar y rematar para el pago de las indemnizaciones.

Desde ya, agradezco mucho sus aportes.

Cristina

Proposed translations

-1
15 mins

Liquidation costs

In this case the previous highest bidder will pay any liquidation costs brought about as a result of this latter adjudication .
Peer comment(s):

disagree Bill Harrison (X) : Nothing is being liquidated here. PS. I think you are thinking Spanish too much with liquidate. It can mean that but it sounds a bit Spanglish.
1 hr
You don't understand the meaning of my answer- any costs previously accrued from the fallen through bid must be met before the next highest bid gets the deal.
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-1
25 mins

(the cost of) cancelling the sale

http://www.seoulauction.com/guide/atermen.asp
1. In case a Successful Bidder fails to make a payment, the Company may cancel the sale and resell the property publicly or privately. In this case, the Successful Bidder shall pay 30% of Hammer Price as a penalty for breach of promise under Article 10 (3).
Peer comment(s):

disagree Bill Harrison (X) : The sale is not cancelled. The next highest bid is taken. PS. But your answer suggests the whole sale (process) is cancelled. Sometimes words are used in more than one sense and lawyers try and avoid creating unnecessary confusion.
1 hr
Obviously,iIn order to sell to next highest bidder the sale (ie. the agreement to sell) to the first must be cancelled. Remember the last words of the Auctioneer.... "SOLD TO......."
Something went wrong...
-1
8 hrs

costs occasioned by the previous adjudication

..
Peer comment(s):

disagree Andrew Bramhall : no- arising from, resulting from.
1 day 12 hrs
arising from and occasioned by mean exactly the same; care to change your disagree?
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Reference comments

1252 days
Reference:

Found term defined in Spanish

Article 476 of the Ecuadorian Code of Civil Procedure
Example sentence:

Art. 476.- Se llama quiebra del remate, la diferencia entre el precio aceptado en el caso del artículo anterior y el ofrecido por el postor a quien se adjudique lo rematado

In other words, the difference between the amount bid by the original winning bidder and the amount bid by the 2nd highest bidder, if the original winner were to default.

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