Sales

Philippines (practicing the contract of sale even before.)

Contract of Sale came from roman word venditio. French called it
ventee/vente. Spanish called it venta. It is a contract whereby the seller
or the vendor obligates himself to deliver a determinate thing and transfer
the ownership thereof, as for the other part known as the vendee who
obligates himself to pay price certain in money.
Parties in the contract of sale: vendor and vendee. (Yung buyer/seller term
daw para sa mga d nag aaral ng contract of sale.)
Vendee will pay using money and the equivalent of money. Also had the
obligation to accept the delivery.
Primary functions are the obligation to deliver and obligation to transfer.
Characteristics of contract of sale are: Principal It can stand alone its
existence and validity, Bilateral sometimes called as the reciprocal because
the vendor and vendee must be in favor with each other. Ownerous
payment using money or the equivalent of money (money referring to legal
tender... e.g. Php) Equivalent of money (e.g. negotiable instruments like
cheques, promissory note, bills of exchange.)
Equivalent money is not considered as legal tender. (Dmo pwede basta basta
ibayad. Kung ayaw ko ng cheque wala kang magagwa. )
When will a cheque become stale cheque? 6 mos from the date of issuance.
(pag wala daw date sa cheque, kung kelan daw inissue ung cheque
awtomatic na ayun ung issuance date base sa Negotiable Instruments Law.)
Nominate it has a name. Consensual and Commutative. There is a perfected
contract of sale when there is a meeting of minds between the vendor and
the vendee.
Commutative (exchange of objects) more or less equivalent values.
Elements of Contract of Sale
Consent, Object and Cost and consideration
Sa consent ito ung may capacity ka na ibind yung sarili mo sa contract.
2 types ng incapacity. Absolute (exist with person (insanity, pwd )) at relative
Minor can enter the contract of sale only with a representative (guardian)
Pero pwede din no guardian basta binibili mo is things and necessities.
Relative = Bwal sa batas. (e.g. in certain cases only. (aliens)) only if the
subject matter is a real property. Bwal bumili ng lupa or real property ang
dayuhan In case sa condo. Bawal and commercial condo pwede ang
residential (40% only) 60% will belong to PH citizens
SA example kay Grace Poe na pilipino tas nagpakasal sa US nagging US
citizen, pwede pa din syang bumili ng house kaso limited
Husband and wife bawal mag contract of sale w/ each other pero pwede
basta may complete separation of property upon in the marriage
settlements(pre-nuptial) pwede din sa judicial separation of property.
Absolute community property (properties that has been acquired before and
after the marriage is a common property. )

Annulment (void from the vey beginning) or legal separation (amensa et tora
).
Prohibited to public auctions (relationship to guardians , admin) basta bawal
ang may relation ganun
Last will and testaments
Voidable ung sa case nung pag bumili ka sa minor tas ikaw guardian
Valid subject matter of sale (things, rights, tangible (physical) , intangible(not
physical), punjible non punjible (), consumable, non-consumable)
Determinate object valid subject of sale.
Illicit objects per se (nature; sale of human flesh (bawal ibenta) ), per
accidence
Status of the ilicit object sale : void