SALES Midterms | Karichi Santos Page
judged by the parties contemporaneous and subsequent acts
xceeds the amou
t of mo
CC does not provide to what extent the value of the thing given as a consideration should exceed the amount of money given for the contract to be considered as a bartere. Dacion en Pago
Article 1245, Civil Code
Dation in payment, whereby property is alienated to the creditor in satisfaction of a debt in money, shall begoverned by the law of sales.
There is a novation of the contract of loan into a contract of sale when creditor agrees to accept a thing in payment of the debt.
f thing given in payment turns out to belong to another, creditors remedy governed by law on sales not on loan.
SALE DACION EN PAGO
No pre-existing credit Pre-existing creditGives rise to obligations Extinguishes obligationsCause or consideration is the price from the viewpointof the seller; or the obtaining of the object, from theviewpointCause or consideration from the viewpoint of the person offeringthe dation in payment is the extinguishment of his debt; from theviewpoint of the creditor is the acquisition of the object offered inlieu of the original creditGreater freedom in the determination of the price Less freedom in determining the priceGiving of the price may generally end the obligation of the buyerGiving of the object in lieu of the credit may extinguish completelyor partially the credit (depending on the agreement)
Sonny Lo v. K
S Eco-Formwork System Phil., Inc., G.R. No.
-f. Chattel Mortgage
Chattel mortgage is a
conditional sale of personal property
as security for payment of debt or theperformance of some other obligation specified therein.
Condition sale shall be void upon seller paying to purchaser a sum of money or doing some other act named. Performance of saidcondition renders the sale immediately void and mortgagee is divested of his title.
Article 2140, Civil Code
By a chattel mortgage, personal property is
recorded in the Chattel Mortgage Register
security for theperformance of an obligation
f the movable, instead of being recorded is delivered to the creditor or a third person, the contract ispledge and not a chattel mortgage.g. Donation
Article 725, Civil Code
Donation is an
act of liberality
whereby a person
of a thing or right in favor of another, who
Article 726, Civil Code
There is also a donation when
a person gives to another a thing or right on account of
services rendered by him to the donor, provided they do not constitute a demandable debt2.
gift imposes upon the done a burden which is less than the value of the thing given
Article 745, Civil Code
the done must accept the donation
through an authorized person with a
special power for the purposeb.
general and sufficient powerOtherwise, the donation shall be void
Article 746, Civil Code
Acceptance must be made during the lifetime of the
and of the
Article 747, Civil Code
Persons who accept donations
in representation of others
who may not do so by themselves shall be obliged tomake the notification and notation of which Art 740 speaks.