Massachussets Rule-

New York Rule-

English Rule-

Barter
- trading goods or service between two parties without use of money.
Examples: when the fisherman give a 10 kilos of fish exchange for the 1
sack of rice to the farmer.

Article 1468
How do you considered a Barter or Contract of Sale?

if the money is more higher than the object it is conssidered to be a

contract of sale
then if the object is higher than the money it is considered to be a barter
lastly, if they are the same amount they are considered to be contract of
sale

how can you say that price of an object is certain?

if we have a reference to the same object
if its delegates to a specified to the third person it can be consider to be
certain

if the parties were not be able to fix, what happen to the

contract?
the contract shall become ineffective as if no price had been agreed upon
unless ofcourse the parties subject subsequently agreed upon price.

house and lot price is worth 1million, he sell it for only 100
thousand. is the contract of sale is valid? void? voidable? or
resisible?
- valid, as long as no defects in consent ART. 1470. Gross inadequacy of
price does not affect a contract of sale, except as it may indicate a
defect in the consent, or that the parties really intended a donation or
some other act or contract. (n)
unless if there are violence situation there will avoidable contract because
the consent of the seller was reshaded.

do you considered that a price keeps changing is certain?

- yes, in article 1472 it is stated that The price of securities, grain, liquids,
and other things shall also be considered certain, when the price fixed is
that which the thing sold would have on a definite day, or in a particular
exchange or market, or when an amount is fixed above or below the price
on such day, or in such exchange or market, provided said amount be
certain.

Stages of Contact of Sale

Negotiation- the sellers offers the object and the buyer have a counter
offer.
Perfection- if there are meeting of mind and accepted.
Consummation- when both parties already performed their obligations.

Sale by Auction
-

How can you say that theres already perfection in Auction?

- if wala ng sumunod na offer at parehas ng nag agree sa price

Can the autioneer withdraw the goods?

-
If the auctioneer did not meet the price of the goods, he can withdraw
it?
- can withdraw it, If both parties agree of the price, so if the auctioneer
didn’t accept it he can withdraw

Can the bidder retract his bid?

- yes, unless hindi pa naibabagsak yung hammer he can retract his bid,
but if its approve and then there’s a perfection na nangyari hindi na sya
pwedeng iretract

Can the auctioneer bid?

- he should notify that he will joined in bidding.

ARTICLE 1477. The ownership of the thing sold shall be transferred to

the vendee upon the actual or constructive delivery thereof. (n)

Conditional Sale- subject to a certain condtion, wherein the condition is

that the ownership shall not pass to the buyer until the full payment of the
price of it.

ART. 1479. A promise to buy and sell a determinate thing for a price
certain is reciprocally demandable. An accepted unilateral promise to buy
or to sell a determinate thing for a price certain is binding upon the
promissor if the promise is supported by a consideration distinct from the
price. (1451a)

The seller offers his car worth 1 million to buyer but he did not
accept it or walang sinabi. Magbabind ba? No, because

The seller wants to withdraw his promise?

Yes, can withdraw anytime because it was not accepted by the
buyer.

When can the seller cannot withdraw his promise by anytime?

- if there binding.

The seller is promise to sell his car worth for 1 million and seller
said that he need 1 week to think, the next day seller withdraw
his offer. Can the seller do that?
- yes, because walang perfection na nangayari.

The future buyer give 1 thousand pesos to the seller to think

for 1 week if he will buy the car next day, seller sell the car to the
other person, is it still valid or void?
-valid, I think po kahit na may binigay sya na money or option money
there is no meeting of minds pa po na nangyayari. Option money is not
part of the price. There is no contract yet.

Effect of Prospect Buyer

 He can file damages against the seller because there’s a breach of
contract.

SIMULATED CONTRACT-
if there is no consideration given to the seller, will the contract will be
valid or void?
-it will be void if the price is not shown however if its shown but a
donation you can reform a contract.

ART. 1480. Any injury to or benefit from the thing sold, after the
contract has been perfected, from the moment of the perfection of the
contract to the time of delivery, shall be governed by articles 1163 to
1165, and 1262. Art. 1480 NATURE AND FORM OF THE CONTRACT 104
SALES This rule shall apply to the sale of fungible things, made
independently and for a single price, or without consideration of their
weight, number, or measure. Should fungible things be sold for a price
fixed according to weight, number, or measure, the risk shall not be
imputed to the vendee until they have been weighed, counted, or
measured, and delivered, unless the latter has incurred in delay. (1452a)