Art 1458-1488 (RENZ JOHN L.

LACERNA BSA2-B TTh 5:30pm-7:00pm) 12/25

1. Can future things to be object of a contract of sale. Explain.

-5 Yes, things having potential existence may be the object of the contract of
sale, and that if the object soon to exist is certainly owned by the seller.
2. A sold his cellphone to B for P20,000 on instalment payment of P1,000 per
month. B failed to pay the 4 th instalment. What are the remedies
available to A?
5- A may choose among the following remedies; remedy of specific
performance, cancellation or foreclosure. In this case, A may exercise exact
fulfillment of the obligation demanding B to execute payment or maybe A will
exercise the remedy to cancel the sale.

3. A owns a property with market value of P10MM. In dire need of money,

he sold the same property to B for P2MM. A few days later, A sought to
cancel the sale on the ground that the sales price was very low. Can the
action of A to cancel the sale prosper?to annul the contract as for the
reason of gross inadequacy of price and that the price is as low as to
“shocking to court’s conscience”.
x- Since the contract is valid, the change of mind of A to cancel the sale may be
don if A will request

4. Who can enter into a contract of sale?

-2 any person whether natural or judicial who can bind themselves have
capacity to enter into a contract. And that means if the person qualified to
enter into contract that he can legally follow the stages of sale.
5. Can a person sell something which he does not own?
- xGeneral rule in contract of sale is that a person cannot sell or convey what
he does not have or own. But the question does not specifically say if it is a
contract of sale, so my answer is yes. A person can sell something which he
does not own if there is an agency to sell, or the person is authorized by the
owner of the thing to sell the thing.