The public debt, in law, is the legal bond between two parties by the creditor who is that person or persons, both natural and legal, who are legitimately authorized to demand the payment or fulfillment of an obligation acquired by two parties previously, the debtor is the that it has the obligation to satisfy an account payable, acquired from a creditor party where the debtor freely decides to commit to the payment of that obligation where they are linked, the debtor party owes executing with a benefit that constitutes the object of the obligation that the debtor to satisfy the creditor's rights. Owing the debtor party execute with a benefit that constitutes the object of the obligation that the debtor must execute to satisfy the rights of the creditor.
This may consist of giving, doing or not doing, having to be in the first two possible cases, authorized that is within the trade, which is the socio-economic activity consisting of the exchange of some materials that are free in the market for buying and selling of goods and services, either for use, for sale or transformation.
On the other hand, the law of obligations is the branch of civil law that within the property law is also related to everything that has to do with regard to legal debts.
In the civil obligation it also makes a legal relationship by virtue of which a party called the debtor must examine a conduct called a benefit that consists of giving, doing or not doing, in the interest of another party called the creditor and several can be directed, from the point of view of view of the creditor, as a power called creditor that is requested from another debtor a benefit.
