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This document discusses different types of contracts related to the sale of property, including dacion en pago, lease, and sale between different parties.
It begins by defining dacion en pago as a contract where property is transferred to satisfy a debt obligation, novating the creditor-debtor relationship into a seller-buyer one. For a lease, the consideration is rent and ownership of the property is not transferred. A lease with an option to buy is essentially a sale by installments.
The document then discusses parties to a contract of sale, noting that natural persons, juridical persons, corporations, and partnerships can enter into a valid sale contract. Contracts involving minors are voidable. Sales
This document discusses different types of contracts related to the sale of property, including dacion en pago, lease, and sale between different parties.
It begins by defining dacion en pago as a contract where property is transferred to satisfy a debt obligation, novating the creditor-debtor relationship into a seller-buyer one. For a lease, the consideration is rent and ownership of the property is not transferred. A lease with an option to buy is essentially a sale by installments.
The document then discusses parties to a contract of sale, noting that natural persons, juridical persons, corporations, and partnerships can enter into a valid sale contract. Contracts involving minors are voidable. Sales
This document discusses different types of contracts related to the sale of property, including dacion en pago, lease, and sale between different parties.
It begins by defining dacion en pago as a contract where property is transferred to satisfy a debt obligation, novating the creditor-debtor relationship into a seller-buyer one. For a lease, the consideration is rent and ownership of the property is not transferred. A lease with an option to buy is essentially a sale by installments.
The document then discusses parties to a contract of sale, noting that natural persons, juridical persons, corporations, and partnerships can enter into a valid sale contract. Contracts involving minors are voidable. Sales
dacion: contract where property is alienated to satisfy/extinguish obligation to pay debt
in dacion: novates creditor-debtor relationship into seller-buyer in dacion: delivery is required (real contract) Lease in sale: obligation to absolutely transfer ownership of thing; in lease: use of thing is for a specified period only with an obligation to return in sale: consideration is price; in lease: consideration is rent in sale: seller needs to be owner of thing to transfer ownership; in lease: lessor need not be owner lease with option to buy: really a contract of sale but designated as lease in name only; it is a sale by installments
CHAPTER 2: PARTIES TO A CONTRACT OF SALE
GENERAL RULE: All parties with capacity to contract can enter into a valid contract of sale Natural Persons Juridical Persons- Corporation/Partnership/Associations/Cooperatives Status of contract: valid Remedies available therefore are: specific performance rescission damages EXCEPTION TO GENERAL RULE: Minors status of contract: VOIDABLE only, therefore ratifiable remedy is action for annulment (with partial restitution in so far as the minor is benefited) SALE BY & BETWEEN SPOUSES Contract with 3rd parties status of contract is VALID Sale between parties Status not provided for by law but VOID according to case law Reason: prevent defraudation of creditors avoid situation where dominant spouse takes advantage of the other avoid circumvention on prohibition of donation between spouses Exception separation of property agreed (marriage settlement) judicial separation of property Common Law Spouses (Paramours)
Status of contract: VOID (per case law)
Rationale: evil sought to be avoided is present OTHERS PER SPECIFIC PROVISIONS OF LAW Guardian with regard to property of ward during period of guardianship Agent with regard to property of principal Executor/administrator with regard to the estate of the deceased Public officers with regard to the property of the State Officer of court & employee with regard to the property in litigation LEGAL STATUS OF CONTRACT: VOID (PER CASE LAW) guardian/ executor/public officers / officers of the court VOIDABLE (PER CIVIL CODE) agent; VALID if with consent TWO GROUPS OF PARTIES PROHIBITED FROM ENGAGING IN CONTRACT OF SALE: Guardian / Agent / Executors ratifiable in the sense that only private wrong is involved Public Officials / Officers of Court not ratifiable in the sense that public wrong is concerned GUARDIAN/AGENT/ADMINISTRATOR Legal status of contract: VOID (case law) Direct or indirect If mediator no need to prove collusion; inutile Even if court approved sale Reason: fiduciary relationship is based on trust ATTORNEYS REQUISITES: Lawyer-client relationship exists Subject matter property in litigation (all types) Duration while in litigation (from filing of complaint to final judgment); may be future litigation Reason: due to public policy; ground for malpractice
Client is at the mercy of the lawyer
Law is a noble profession 2 Masters 2 interest; one cannot serve 2 masters at the same time Exception: CONTINGENT FEE ARRANGEMENT Amount of legal fees is based on a value of property involved in litigation Not a sale but service contract I give that you may do (innominate contract) so has to be governed by law on sales but because of public policy, considered VALID Reason why contingent fee is followed: constitutional prohibition v. impairment of contract subject to control of courts (may be reduced if unconscionable or nullified) canons of legal ethics higher public policy litigants CHAPTER 3: SUBJECT MATTER OF SALE TO BE A VALID & BINDING SUBJECT MATTER, THE FOLLOWING MUST CONCUR: 1. Existing, Future & Contingent 2. Licit 3. Determinate or determinable EXISTING, FUTURE, CONTINGENT Refers to subject matter that are existing & not existing but capable of existence (pursuant to present technology) if this is present, status of contract: VALID if absent : NO CONTRACT SITUATION, THEREFORE NO CAUSE OF ACTION if mere pipe dream : VOID a.
SALE OF THINGS HAVING POTENTIAL EXISTENCE (Emptio Rei Speratae)
Sale of future things; no physical existence yet A resolutory condition that thing will come into existence
Non happening of condition: RESULUTORY: EXTINGUISH THE CONTRACT
Remedy: can recover what has been paid b.
SALE OF HOPE (Emptio Spei)
Every sale of future thing is subject to condition that they will come into existence If hope does not come true NO RECOVERY OF PAYMENT/NO RESCISSION Aleatory character but valid
A Simple Guide for Drafting of Conveyances in India : Forms of Conveyances and Instruments executed in the Indian sub-continent along with Notes and Tips