CONTR: or from C,_ sold th was the subject Welty to T who was aware that ion. The sale is rescssibie, 5. All other contracts specially declare rescission. (Art 1381) 1 “eclaed Note: Rescission with res, ; pect to lesion in items’ 4 Sf pene nace yt ah 2 2 ola taken appropriat absentee, Pua stePs to safeguard the interest of the ward or by law to be subj Rescissible payment, requisites 1 The debtor is insolvent, 2 3 The obligation is not yet due, The debtor makes the payment. (art 1382) Rescission, concept Rescission is the remedy allo aris and even fo thd persons, to secure te hv? coon aci ed to them by a contrac ever " festoration of things to Celebration of said contract Vally entered int and 1807 of external causes resuitin. Contracting parties or their cre 7 August 13, 2012) pi igatory under normal conditions, by 8 Pecuniary predic wane rte (Ada vs. Bayion, GR. No. 18243 Requisites for rescission é The party sufferis ing damaye mi Hat pr eg ae ms The action for resciss: on is Gebtor has property other than that fo Ought, rescission will not prosper subsidiary. Hence, if the which rescission is being ‘The party demanding resc 19 rescission e he may be obliged t restore Ya gy we rtu whatver Rescission cree Which were the damages caused. (Art. “the farm of 'M, his ward, for P700.00 per sack, 189 ONTRACTS, return does not apply to ito be retumed by them. 1985). However, the obigati prejudiced creditors as there is nol The thing object of the contract must not be legally in. the possession of a third person who acted in good faith. (Art. 1385) lh this case, indemnity for damages may be demanded tne person causing the loss. (Art. 1385) The action for rescission must be brought within, the period allowed by law. (Art. 1389) ‘The prescriptive period is 4 years from thie date of the contract, except'in the following a. For persons under guardianship ~ 4 years from ‘of incapacity Extent of rescission Rescission shal G, guardian, sold 100 sacks of rice harvested from a tolal price of total Example ‘cover the damage of P30,000,00 (which is more than one- total value of P100,000.00). Thus, B must retum 30 sacks Alienations in fraud of creditors tle Alienations by gratuitou Gratuitous aliena centered into in fraud of sufficient property to pay donation. (Art. 1387) Example: _D owes his creditors P500,000.00. He has assets of P700,000.00. If D donates assets amounting 300,000.00, such donation is presumed fraudulent becouse leaves D with assets of only P400,000.00, which emount enough to pay his debts of 500,000.00. s are presumed to have been if the debtor did not reserve debts contracted before, the