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BLR File4

Law on Sales NOTES

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Christy Canete
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4 views

BLR File4

Law on Sales NOTES

Uploaded by

Christy Canete
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Art. 1468.

Sale distinguished from barter parties fixed or agreed a definite


amount
Contract of barter or exchange

→one party binds himself to give one thing on b.


consideration of the other's promise to give c.
another thing
be certain with reference to another
1. thing certain

Cases where thing given in exchange d.


consists partly in money and partly in e.
another thing
determination is left to the judgment
2. of specified person/s

a. f.
Manifest intention of the parties Effect where price fixed by third person
SUBSISTS (ascertained by subsequent designated
acts)
→ BINDING
b. Except:
c.
1.
If Intention cannot be ascertained:
third person acts in bad faith or by
d. mistake (court may fixed the price)

/ consider BARTER if value of the thing 2.


given exceeds the amount of the
money or equivalent given / mere error cannot serve as basis for
(2) element present in sale but not in disregarding the price fixed
barter is PRICE CERTAIN IN MONEY OR
ITS EQUIVALENT 1.
Art. 1469. When price considered certain
third person disregarding specific
instructions laid down by the parties or
1. data given

No sale of price not certain or 2.


ascertainable
/ Effect where price not fixed by third person
2. designated
3.
1.
Cases when price considered certain
Third party designated REFUSES or
4. CANNOT FIX (without fault of the
parties) CONTRACT BE INEFFECTIVE
a. unless parties subsequently fixed the
price
2. 4.
3.
/ judiacial sale of real property will be
Third person PREVENTED from fixing SET ASIDE
the price by fault of seller or buyer,
party not in fault may redress against 1.
party in fault
Where seller given right ro repurchase
4.
2.
/ Rescission or fulfillment + damages in
either case

/ In case of remedy for fulfillment,


court may fix the price

Art. 1470. Effect of gross inadequacy of price in


contract of sale

Gross inadequacy of price in Voluntary Sales

1.

General rule - mere inadequacy DOES


NOT affect its validity when both
parties are in a position to form an
independent judgment

2.
3.

Where low price indicates defect in


consent:

4.

/ contract may be ANNULED when


consent is vitiated or price is low as to
be shocking to court's conscience

Gross inadequacy of price in Involuntary or


Execution sales

1.

General rule - mere inadequacy NOT


SUFFICIENT for the cancellation of an
execution sale

2.
3.

Where price is so low as to be shocking


to the conscience

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