ASSIGNMENT OF CREDITS

AND OTHER INCORPOREAL RIGHTS

WHAT?
An agreement by virtue of which the owner of a credit,
known as the assignor, by a legal cause (ie: sale, dation
in payment, exchange, donation), and without the
consent of the debtor, transfers his credit and accessory
roghts to another, known as the assignee.

HOW PERFECTED?
A consensual contract perfected
by mere consent.

EFFECT?
The transfer of the credit or right does not
extinguish or modify the obligation. The transferee
becomes the new creditor for the same obligation.

BARTER
A.K.A. "EXCHANGE"

WHAT?
By the contract of barter or exchange, one of the
parties binds himself to give one thing in
consideration of the other's promise to give
another thing.

WHEN IS IT *NOT* BARTER?

When you exchange foreign currency
with Philippine currency, it is not
barter.

Can only be constituted by

expressRULES IF CONSIDERATION
reservation in a IS PARTLY
contract ofIN THING
sale AND
at time of PARTLY IN MONEY
perfection.
AMOUNT OF MONEY > THING =
Determine intention first. If it cannot be
determined, it is SALE.
AMOUNT OF THING > MONEY =
BARTER.
AMOUNT OF MONEY = THING =
Determine intention first. If it cannot be
determined, it is SALE.

NOTE: It is only if there is a doubt as to the

intention that the following rules will appy.