BM1808

Name: Padilla, Aries Christian S. Section: BSMA 401

FOCUSED LISTING

Directions: List all your learnings from the discussion. Write your answers on the spaces provided.

1. Requisites of a valid object of sale

Answer:

1. The thing must be within the commerce of men.

2. The thing must not be contrary to law, morals, good customs, public order or public policy.
3. The thing must be determinate.
4. The vendor must have the right to transfer ownership at the time of delivery

2. Sale of things having potential existence

Answer:

1. “Emptio rei speratae” (sale of thing with potential existence) is the sale of a thing not yet in
existence subject to the condition that the thing will exist, and on failure of the condition, the
contract becomes ineffective and hence, the buyer has no obligation to pay the price (De
Leon, 2016).

2. “Emptio spei” (sale of mere hope or expectancy) is the sale of the hope itself that the thing
will come into existence, where it is agreed that the buyer will pay the price even if the thing
does not eventually exist. However, sale of vain hope or expectancy is void, such as the sale
of losing a ticket already drawn (De Leon, 2016).

3. Rules on the sale of fungible goods

Answer:

1. If the quantity, i.e., number, weight or measure, of the mass is more than the quantity sold,
the parties shall become co-owners of the mass.
2. If the quantity of the mass is less than the quantity sold, the buyer becomes the owner of
the whole mass, with the seller being bound to make good the deficiency from goods of the
same kind and quality, unless a contrary intent appears.

4. Existing and future goods

Answer:

1. Existing goods - Those that are owned or possessed by the seller may be the object of sale
(Article 1462).
2. Future goods - Cover goods that are to be manufactured, raised, or acquired by the seller
after the perfection of the contract of sale (Article 1462).