Правна същност и особености на консорциалните дългове при неправосубектния консорциум
Legal Nature and Characteristics of Consortial Debts and Obligations in the Unincorporated Consortium

Author(s): Dimitar Atanasov
Subject(s): Economy, Law, Constitution, Jurisprudence, Financial Markets, Philosophy of Law, Commercial Law
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: unincorporated consortium; joint venture; consortial debts and obligations; consortial liability
Summary/Abstract: The following paper explores some of the legal aspects of consortial debts and obligations in the unincorporated consortium. The article proposes a definition of the term, outlines the main forms of consortial debt and obligations and examines their defining characteristics. Based on the typical interests and reasonable expectations of consortia creditors and the usual contractual practice a conclusion is made that in absence of agreement with the creditors to the contrary a joint and several obligation arises as a default rule and all consortia members are jointly and severally liable for damages in case of nonperformance that constitutes a breach of contract regardless of their personal fault. The paper furthermore outlines some of the defining characteristics of the consortial duty and standard of care which is reasonably expected from consortial members when fulfilling their obligations. In the concluding remarks the paper proposes a de lege ferenda default rule of joint and several liability of consortial members.

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