Category Archives: Business Law

Sales Distinguished from Others

Sale distinguished from Dacion en Pago: Sale, there is no pre-existing credit while Dacion en Pago there is a pre-existing credit. Sale creates obligation while Dacion en Pago extinguishes obligation. Sale the cause or consideration is the price and delivery … Continue reading

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Art. 1458 Sales

Sale is a contract whereby one of the contracting parties (known as the seller or vendor) obligates himself to transfer the ownership of and deliver the determinate thing and the other party  (known as the buyer or vendee), obligates himself … Continue reading

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Negotiation of Instrument

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Negotiation vs Assignment

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Void or Inexistent Contracts

One which has no force or effect from the very beginning. Characteristics of Void or Inexistent Contracts; Cannot be ratified. Set up defense of illegality cannot be waived. Action or defense for the declaration of the inexistence of a contract … Continue reading

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Unenforceable Contracts

One that cannot be enforce unless ratified. Ratification – adoption or affirmation of a contract which is defective. extinguishes the action to annul a voidable contract. cleanses the defects of a contract from the moment it was constituted and validated … Continue reading

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Voidable Contracts

Voidable contracts susceptible of ratification; Where one parties are incapable of giving consent; a. Unemancipated minors. b. Insane or demented persons. c. Deaf / mutes who do not know how to write. 2. Where the consent is vitiated by mistake, … Continue reading

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