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    Chapter 2: Capacity To Buy or Sell: C. "Sale or Return" Distinguished From Sale On Trial

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    elaine
    This document outlines several chapters related to contracts of sale: 1. Chapter 2 discusses who has the capacity to enter contracts of sale, including those with absolute or relative incapacity. Minors can void contracts but must pay a reasonable price for necessities sold to them. 2. Chapter 3 addresses what happens if the thing sold is entirely or partially lost at the time of sale, with the contract becoming void or allowing withdrawal. 3. Chapter 4 outlines the principal obligations of the vendor, including transferring ownership, delivering accessories, warranting against issues, and paying expenses. It also discusses the concepts of tradition/delivery and how "sale or return" differs from a sale on trial.

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    © All Rights Reserved

    Chapter 2: Capacity To Buy or Sell: C. "Sale or Return" Distinguished From Sale On Trial

    Uploaded by

    elaine
    505 views2 pages
    This document outlines several chapters related to contracts of sale: 1. Chapter 2 discusses who has the capacity to enter contracts of sale, including those with absolute or relative incapacity. Minors can void contracts but must pay a reasonable price for necessities sold to them. 2. Chapter 3 addresses what happens if the thing sold is entirely or partially lost at the time of sale, with the contract becoming void or allowing withdrawal. 3. Chapter 4 outlines the principal obligations of the vendor, including transferring ownership, delivering accessories, warranting against issues, and paying expenses. It also discusses the concepts of tradition/delivery and how "sale or return" differs from a sale on trial.

    Original Title

    CHAPTER 2 and 3

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    This document outlines several chapters related to contracts of sale: 1. Chapter 2 discusses who has the capacity to enter contracts of sale, including those with absolute or relative incapacity. Minors can void contracts but must pay a reasonable price for necessities sold to them. 2. Chapter 3 addresses what happens if the thing sold is entirely or partially lost at the time of sale, with the contract becoming void or allowing withdrawal. 3. Chapter 4 outlines the principal obligations of the vendor, including transferring ownership, delivering accessories, warranting against issues, and paying expenses. It also discusses the concepts of tradition/delivery and how "sale or return" differs from a sale on trial.

    Copyright:

    © All Rights Reserved
    505 views2 pages

    Chapter 2: Capacity To Buy or Sell: C. "Sale or Return" Distinguished From Sale On Trial

    Uploaded by

    elaine
    This document outlines several chapters related to contracts of sale: 1. Chapter 2 discusses who has the capacity to enter contracts of sale, including those with absolute or relative incapacity. Minors can void contracts but must pay a reasonable price for necessities sold to them. 2. Chapter 3 addresses what happens if the thing sold is entirely or partially lost at the time of sale, with the contract becoming void or allowing withdrawal. 3. Chapter 4 outlines the principal obligations of the vendor, including transferring ownership, delivering accessories, warranting against issues, and paying expenses. It also discusses the concepts of tradition/delivery and how "sale or return" differs from a sale on trial.

    Copyright:

    © All Rights Reserved
    of 2

    CHAPTER 2: CAPACITY TO BUY OR SELL

    A. Who may enter into a contract of sale - All persons who are authorized in this code
    B. Kinds of incapacity 1. Absolute- persons who cannot bind themselves
    2. Relative- exists only with reference to certain
    persons or a certain class of property
    C. Liability of a minor or other persons without  General Rule- contract entered into by a
    capacity to act minor or other incapacitated person are
    voidable.
     However, when necessaries are sold and
    deliver to him, he must pay a reasonable
    price.
    D. Relative incapacity of husband and wife 1. Selling property to each other
    2. Making donation to each other during the
    marriage

    CHAPTER 3: EFFECTS OF THE CONTRACT WHEN THE THING SOLD HAS BEEN LOST

    A. Effect of the loss of thing at the time of sale 1. Thing entirely lost- contract is void
    2. Thing only partially lost- withdrawing from the
    contract and demanding the remaining part
    B. Effect of loss in case of specific goods 1. Avoided
    2.

    CHAPTER 4: OBLIGATIONS OF THE VENDOR

    A. Principal Obligation of the Vendor 1. Transfer ownership of the determinate thing sold
    2. Deliver the thing with its accession and
    accessories
    3. Warrant against eviction and against hidden
    defects
    4. To take care of the thing, pending delivery, with
    proper diligence
    5. Pay for the expenses of the deed of sale
    B. Concept of Tradition or Delivery - Tradition is a derivative mode of acquiring
    ownership by virtue of which one who has the
    right and intention to alienate a corporeal thing,
    transmits it by virtue of a just title to one who
    accepts the same.

    C. “Sale or return” distinguished from sale on trial. 1. “Sale or return” is a sale subject to a resolutory
    condition, while sale on trial is subject to a
    suspensive condition;

    2. “Sale or return” depends entirely on the will of


    the buyer, while sale on trial depends on the
    character or quality of the goods;

    3. In “sale or return,” the risk of loss or injury rests


    upon the buyer, while in sale on trial, the risk still
    remains with the seller.
    D. Effects When the seller or his agent is consignee. the seller thereby reserves the ownership in the goods.
    But if, except for the form of the bill of lading, the
    ownership would have passed to the buyer on shipment
    of the goods, the seller’s property in the goods shall be
    deemed to be only for the purpose of securing
    performance by the buyer of his obligations under the
    contract.

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