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    Sale Agency

    Uploaded by

    KAYE JAVELLANA
    The document compares and contrasts different types of transactions including sale, agency, barter, contract for work, datation in payment, earnest money, and option money. It provides definitions and key differences for each transaction type across several tables focusing on elements like ownership, risk, consideration, and binding requirements.

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    © All Rights Reserved
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    Sale Agency

    Uploaded by

    KAYE JAVELLANA
    28 views2 pages
    The document compares and contrasts different types of transactions including sale, agency, barter, contract for work, datation in payment, earnest money, and option money. It provides definitions and key differences for each transaction type across several tables focusing on elements like ownership, risk, consideration, and binding requirements.

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    The document compares and contrasts different types of transactions including sale, agency, barter, contract for work, datation in payment, earnest money, and option money. It provides definitions and key differences for each transaction type across several tables focusing on elements like ownership, risk, consideration, and binding requirements.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    28 views2 pages

    Sale Agency

    Uploaded by

    KAYE JAVELLANA
    The document compares and contrasts different types of transactions including sale, agency, barter, contract for work, datation in payment, earnest money, and option money. It provides definitions and key differences for each transaction type across several tables focusing on elements like ownership, risk, consideration, and binding requirements.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 2

    Activity 1

    Table 1

    Sale Agency
     Buyer has to pay the price.  Agents are only accountable for the
    proceeds of the sale he/ she can make on
    the principal’s behalf.
     Ownership of the goods will be  Receives the goods but the ownership
    transferred to the buyer. remains to the principal
     As a general rule, the buyer cannot return  Agents can return the object to be sold in
    the object sold. case he/ she will not be able to sell it to a
    third person.
     All the things sold, the seller gives  The agent makes no warranty for which
    warrants. he assumes personal liability.
     Being the owner, buyer can deal with  In dealing with the thing received, the
    thing sold as he pleases. agent must act and bound according to
    the instructions of the principal.

    Table 2

    Sale Barter
     Contract is an element present in the  No contract involved
    sale.
     The vendor gives a thing in consideration  Transaction involves direct exchange of
    for a price in money. things without the use of money

    Table 3

    Sale Contract for a piece of work


     The thing transferred would have existed  The thing transferred is not in existence
    and been the subject of sale to some and which never would have existed but
    other person. for the order of the party desiring to
    acquire.

     The risk of loss is borne by the buyer.  The risk of loss before delivery is borne by
    the worker or contractor and not by the
    employer.
     Covered by the Statute of Fraud.  Not covered by the Statute of Fraud.

    Table 4
    Sale Dation in Payment
     The cause or consideration of the sale is  The cause is the extinguishment of the
    the price and delivery of the object. obligation.
     There is no pre-existing credit.  There is a pre-existing credit.
     Has greater freedom in terms of fixing the  The amount of its pre-existing credit
    price. allows the dation in payment to have less
    freedom in terms of fixing the price in
    which the parties seek to extinguish.

    Table 5

    Earnest Money Option Money


     Part of the purchase price.  Money given as a distinct consideration
    for the option contract and does not form
    part of the purchase price.
     Applies to a perfected sale.  Applies to a sale not yet perfected.
     The buyer is bound to pay the balance if  When the would-be buyer gives option
    the earnest money is already given. money, he is not required to pay.

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