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    Sales Report 1492-1494

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    MAry Jovan Pangan
    The document discusses key concepts related to contracts for the sale of goods when the goods are partially or entirely lost prior to the completion of the sale. It defines compromise, renunciation, and legal redemption. It then summarizes the effects under Articles 1493 and 1494 of the Civil Code when the object of the sale is entirely lost, partially lost, or deteriorated at the time of the sale for both specific goods and divisible/indivisible sales. The buyer has options to withdraw from the contract or demand the remaining goods, paying a proportionate price, depending on whether the sale is divisible or indivisible.

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    © All Rights Reserved
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    Sales Report 1492-1494

    Uploaded by

    MAry Jovan Pangan
    647 views12 pages
    The document discusses key concepts related to contracts for the sale of goods when the goods are partially or entirely lost prior to the completion of the sale. It defines compromise, renunciation, and legal redemption. It then summarizes the effects under Articles 1493 and 1494 of the Civil Code when the object of the sale is entirely lost, partially lost, or deteriorated at the time of the sale for both specific goods and divisible/indivisible sales. The buyer has options to withdraw from the contract or demand the remaining goods, paying a proportionate price, depending on whether the sale is divisible or indivisible.

    Original Description:

    Civil Code of the Philippines, Law on Sales

    Original Title

    SALES REPORT 1492-1494

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    The document discusses key concepts related to contracts for the sale of goods when the goods are partially or entirely lost prior to the completion of the sale. It defines compromise, renunciation, and legal redemption. It then summarizes the effects under Articles 1493 and 1494 of the Civil Code when the object of the sale is entirely lost, partially lost, or deteriorated at the time of the sale for both specific goods and divisible/indivisible sales. The buyer has options to withdraw from the contract or demand the remaining goods, paying a proportionate price, depending on whether the sale is divisible or indivisible.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    647 views12 pages

    Sales Report 1492-1494

    Uploaded by

    MAry Jovan Pangan
    The document discusses key concepts related to contracts for the sale of goods when the goods are partially or entirely lost prior to the completion of the sale. It defines compromise, renunciation, and legal redemption. It then summarizes the effects under Articles 1493 and 1494 of the Civil Code when the object of the sale is entirely lost, partially lost, or deteriorated at the time of the sale for both specific goods and divisible/indivisible sales. The buyer has options to withdraw from the contract or demand the remaining goods, paying a proportionate price, depending on whether the sale is divisible or indivisible.

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    © All Rights Reserved
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    You are on page 1of 12

    ARTICLE 1492

    The prohibitions in the two preceding


    articles are applicable to sales by virtue
    of legal redemption, compromises and
    renunciations.
    Compromise
    It is a contract whereby the parties, by
    reciprocal concessions, avoid a litigation or
    put an end to one already commenced. (Art.
    2028.) It is the amicable settlement of a
    controversy.
    Renunciation

    A creditor gratuitously abandons his


    right against his creditor. The other
    terms used by the law are condonation
    and remission. (see Art. 1270.)
    Legal redemption
    It is the right to be subrogated, upon the
    same terms and conditions stipulated in
    the contract, in the place of one who
    acquires a thing by purchase or dation in
    payment, or by any other transaction
    whereby ownership is transmitted by
    onerous title.
    ARTICLE 1493
    If at the time the contract of sale is perfected,
    the thing which is the object of the contract has
    been entirely lost, the contract shall be without
    any effect.
    But if the thing should have been lost in part
    only, the vendee may choose between
    withdrawing from the contract and demanding
    the remaining part, paying its price in
    proportion to the total sum agreed upon.
    Effect of loss of thing at the time
    of sale
    Thing entirely lost

    Where the thing is entirely lost at


    the time of perfection, the contract
    is inexistent and void because there
    is no object. There being no
    contract, there is no necessity to
    bring an action for annulment
    Thing only partially lost

    If the subject matter is only partially lost, the vendee may


    elect between withdrawing from the contract and demanding
    the remaining part, paying its proportionate price.
    When a thing considered lost.
    The thing is lost when it perishes or goes out of commerce or disappears in
    such a way that its existence is unknown or it cannot be recovered.

    The word “perishes” is sufficiently inclusive as to cover a case where there


    has been material deterioration or complete change in the nature of the
    thing in such a manner that it loses its former utility taking into
    consideration the time the contract was entered into.
    ARTICLE 1494
    Where the parties purport a sale of specific goods, and the goods without
    the knowledge of the seller have perished in part or have wholly or in a
    material part so deteriorated in quality as to be substantially changed in
    character, the buyer may at his option treat the sale:
    (1) as avoided; or
    (2) as valid in all of the existing goods or in so much thereof as have not
    deteriorated, and as binding the buyer to pay the agreed price for the
    goods in which the ownership will pass, if the sale was divisible.
    Effect of loss in case of specific goods.
    Article 1493 applies to a sale of specific thing. Article 1494, on the other
    hand, applies to sales of goods, that is, the object of the sale consists of a
    mass of “specific goods” which means “goods identified and agreed upon at
    the time a contract of sale is made.”

    Both articles have actually the same essence providing two alternative
    remedies to the buyer in case of deterioration or partial loss of the object
    prior to the sale, namely: to rescind or withdraw from the contract or to
    give it legal effect, paying the proportionate price of the remaining object.
    Sale divisible Sale indivisible
     The second option is  Suppose the sale is not divisible,
    available only if the sale is what price is the buyer to pay for the
    remaining goods if he elects to
    divisible. (Art. 1494, par.
    continue with the sale? It is
    2.) A contract is divisible believed that the buyer should be
    when its consideration is made to pay only the proportionate
    made up of several parts. price of the remaining goods as
    (see Art. 1420.) When the provided for in paragraph 2 of the
    consideration is entire and preceding article. If the sale is
    indivisible, the object thereof may
    single, the contract is
    be considered as a specific thing.
    indivisible.

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