History And Evolution Of Contracts

History and evolution of contracts

Introduction

The main countries that were interested in regulating the Insurance Institution, is Italy that begins its practice with the merchants of Florence, Genoa and Venice, then extends to France, Spain and the rest of Europe, where maritime insurance becomes Fundamental pillar of the economy, until reaching England in the seventeenth century, emerging from a fire that destroyed the city of London. Vestiges are also found in civilizations such as Babylon and India.

Developing

The civilizations of Babylon and India, where contracts signed between bankers and banks are evidence Of the load or a ship), during the journey, the loan was understood as canceled. In turn, in the Sacred Jewish book (Talmud), there were institutions that could be framed within the insurance contract.

As exposed in the magazine published by the University of La Sabana Seguros Essential themes, in the first place, the one that indicated that all Jews belonging to the same family group should help provide the single women from the dowry so they could get married. For his part Professor Hernán Fabio López Blanc.

And it can be said that he was born with her: initially the family, then the clan and the tribe, did it naturally. Later with the emergence of the state organization, the association for mutual assistance is transformed into a voluntary phenomenon, we find it in India, Persia, Palestine, Phenicia, there are references to it in the Talmud and the Hammurabi Code.

A first reference of the Insurance Institution is reflected in the Hammurabi Code which established that if someone hired people he had to pay if they suffered an accident.

Likewise, in Egypt the caravans were protected through collection of sums of money by way of compensation and in Greece, there were collections that would be used for funerals for funerals for funerals. Finally, its appearance in Colombia is influenced by the ordinances of Seville and Bilbao and subsequently the Panama Code regulated the insurance contract, which was in force until 1972, when the current Commercial Code entered to govern, which has had several modifications.

conclusion

Being the law 45 of December 1990, which introduced several changes, to the insurance contract such as the one concerning that the insurance activity must be monitored by the Banking Superintendence today Superintendence of Companies whose purpose is to “protect the rights of the makers, of the insured and create appropriate conditions for the development of the insurance market, as well as a healthy competence of the institutions that participate in it ”.